The riverside scheme will include the redevelopment of an existing 1970s estate on the site to create three new blocks ranging from three to 14 storeys. The blocks will comprise 400 new homes, providing a mix of social rent, shared ownership and private sale. There will also be 103 square metres of office or community space.
East Thames Group said that existing residents would be offered the new homes first. It said that many of the residents have been involved in the preparation of the plans throughout last two years.
The Council's strategic development committee resolved to grant the permission in November last year.
"New Union Wharf is the first major estate where residents have chosen between full-scale regeneration or refurbishment to their homes," said East Thames director of development and property Geoff Pearce in a statement.
"Since the residents made that decision, we’ve worked really closely with them to design the new homes, and I truly believe that their input has made a massive, positive difference to the quality of the scheme," he said.
“The homes will not only provide a better quality of life for the existing residents, but will also offer a great new environment with housing opportunities for the local community,” Pearce said.
East Thames Group said it plans to start work on the site this year.
