Countryside and L&Q have been chosen to build out the final parcel of GLA land to be released for development: Beam Park in Dagenham, east London.
The pair will build 3,000 homes on the 71.7-acre site, together with a school, swimming pool, a new railway station and other facilities.
Beam Park is the last of more than 1,000 acres of GLA land to be released for development, after Boris Johnson pledged to release all City Hall-owned land for development by the end of his mayoral term.
The GLA said the sold land would create 16m sq ft of employment space, 50,000 homes, 11 parks, and 14 schools.
Currently derelict, Beam Park is the site of the former Ford factory plant and was used for the dress rehearsal of the opening ceremony of the 2012 Olympics.
Under the development agreement, 35% of the new homes on Beam Park will be affordable, with a significant proportion of shared ownership units marketed to the local community first.
L&Q and Countrywide will now work up a planning application for submission later this year, while construction is expected to begin in 2017.
The new station will be developed by the pair, in partnership with Network Rail, Transport for London and C2C Rail. The station project has been awarded a £9m grant from TfL’s growth fund.
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