Investec Structured Property Finance has provided a £17m stretched senior loan to Galliard Homes.
The loan will provide finance for the acquisition and development of the Cygnet Street Car Park site, E1.
Galliard Homes intends to create 39 residential units, a gym and a commercial unit on the ground floor of the site.
Planning permission has been granted and the assumed value of the site at completion is expected to be in excess of £30m.
