Under the plans, which are partly funded by the Greater London Authority (GLA), existing tower blocks on the site will be transformed into a new community of between 550 and 622 houses and low rise flats for Orbit South. The new homes will comprise a mix of affordable rent, private sale and low cost home ownership.
Orbit South will deliver the five-year scheme in partnership with the Council, affordable housing provider Wates Living Space and architect Broadway Malyan.
The first phase of the scheme proposes building 66 homes for sale, 82 for shared ownership and 195 for rent to create a mixed community. Open green space, including the Dell nature area, will also be improved.
"I am absolutely delighted that after several years of lobbying and negotiating, we are now at a stage where planning permission has to been granted and the plans to regenerate Larner Road will soon become a reality," said the Council's cabinet member for economic development and regeneration Linda Bailey.
“This milestone decision enables us to press on with our plans to create a thriving community," said Orbit South managing director Vivien Knibbs. "To say that Larner Road will be transformed is an understatement. Once complete, it will become a new neighbourhood of streets and gardens where local people want to live and a public green space for all of the community to enjoy.”
Orbit South said it expects work to start on the site in March 2013, subject to approval by the GLA and for the first homes to be ready by early 2015.
