Millharbour Village is to be built on a six-acre site alongside South Dock on the Isle of Dogs, just south of Canary Wharf. It will one day be home to more than 4,000 people.
The multi-billion-pound project is expected to be given the green light this week and would be the largest scheme to be put forward for London since the ongoing redevelopment at Nine Elms.
Developer Galliard Homes says that more than a quarter of the homes will be earmarked for low-income Londoners priced off the housing ladder.
The scheme’s tallest building will have 45 storeys and stand at 481ft – just three feet shorter than the tallest Pan Peninsula tower nearby.
Millharbour Village will be served by the new Crossrail station at Canary Wharf, due to open in 2018, and will include a new state primary school, a nursery school and two public parks. The developer says the aim is to create a high-density yet family-friendly environment, and it is being designed by two award-winning London architects – Studio Egret West and Hawkins Brown.
A pivotal element is almost 4,000sq ft of aerial playground space for children under five, created on the rooftops of two of the skyscrapers.
Tony Usher, associate director of Jones Lang LaSalle, believes families will buy into the idea of bringing up children in a flat.
“At the moment, the situation is that they are almost forced out of the area because of the lack of infrastructure – schools and GP surgeries,” says Usher.
“If those things come to the area, then I think people will stay because they will still want to be close to work after they have had a family.”
Millharbour Village is a mixed-use scheme and will also include restaurants, cafés and offices, but at this stage it is almost impossible to know how expensive it will be.
Two-bedroom flats at the nearby Lincoln Plaza development have been sold off-plan for about £575,000, but a similar home in the landmark Pan Peninsula tower would cost between £700,000 and £750,000.
Tower Hamlets council is due to approve the Millharbour Village proposals at a meeting of its strategic development committee.
A spokesman for Galliard said nobody could comment on the project ahead of the meeting.