Rom Valley, a joint venture between investor Portland Capital and Mitheridge, has received planning approval to redevelop the Seedbed Centre and Rom Valley Way Retail Park in Romford.
The approval from the London Borough of Havering covers 840 homes, a minimum of 32,000 sq ft of industrial floorspace and 2,000 sq ft of retail.
Of the 840 homes, 11% will be affordable, including 60 for social rent.
The application also includes the provision of a new primary school and medical facility.
There are currently 45 low-rise industrial and commercial units on the site, with associated café and car parking, which will be demolished to make way for the residential-led, mixed-use development.
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