The Mayor sealed the fate of the dog track after supporting Walthamstow Forest Council’s decision to allow social landlord London and Quadrant to build 294 homes, a nursery, allotments and green spaces at the famous stadium site.
The project faced strong opposition from campaigners and local Conservative MP Iain Duncan Smith who fought to have the plan rejected.
L&Q is expected to use one of its framework contractors to redevelop the site.
These include: Allenbuild, Ardmore, Countryside Properties, Denne, Durkan, GallifordTry, Higgins, Hill Partnerships, Mace and Rydon.
Johnson said: “I share the sadness of many about the demise of dog racing from this historic corner of London.
“However, I believe this proposal will provide a major boost for Walthamstow, creating new jobs and new homes, many of which will be affordable and attract desperately needed new investment into the area.
“No viable plan has been put forward to bring racing back.”