Friends Life, part of the Aviva Group, has won planning consent for 325 new homes in Dagenham Dock, east London.
The 4.1-acre site will provide 35% affordable housing in buildings of up to 10 storeys in height.
Barking & Dagenham Council has plans for 50,000 new homes and the creation of 20,000 new jobs over the next 20 years.
The borough’s growth potential is reflected in the draft London Plan, which increases the borough’s annual housing supply target from 1,236 to 2,264.
Aviva, along with joint venture partner Galliard, is also proposing 1,200 new homes in towers of up to 48 storeys on the Old Kent Road, SE15.
Aviva acquired the Cantium retail park site in 2010 for £31m and submitted plans for a minor reconfiguration of the retail space in 2015. However, this was withdrawn when the Old Kent Road Opportunity Area was announced, with huge amounts of residential schemes now coming forward, benefiting from the GLA planning designation.
Aviva paid £10.6m in 2004 for the site Barking site on Merrielands Crescent, near Dagenham Dock train station.
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