Swan Housing Association (Swan) in the UK has secured detailed planning permission for the third phase of $686m (£500m) regeneration project at Blackwall Reach.

The third phase of the project will deliver an additional 315 new homes including larger family units located on the ground and first floor levels of the project.

Blackwall Reach regeneration project is being developed by Swan in partnership with London Borough of Tower Hamlets and the Greater London Authority.

The project will create 1,575 new homes by replacing 252 existing residential homes, car parks and warehouses.

Swan said that 340 homes were delivered under Phase Ia and Ib, while 268 homes are currently in the development phase under Phase II.

Swan CEO John Synnuck said: “Seeing the Blackwall Reach generation evolve and the new community develop has been hugely rewarding for us and our regeneration partners at the London Borough of Tower Hamlets and the Greater London Authority.

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“Phase III will cement Blackwall Reach’s position as one of the most significant transformative regeneration projects in London. As well as more than 300 new homes, it will bring the preservation and enhancement of such high-quality public space in the city which is so essential in a post Covid-19 world.”

The Phase III of the project will also include delivering 2.85 acres of green space with more than 200 trees and children play areas.

Tower Hamlets Mayor John Biggs said: “The Blackwall Reach Regeneration scheme is creating more than 1500 new homes, including 679 affordable homes, 561 of which will be at social rent and a further 118 for shared ownership.

“The next stage of this project will not only deliver 315 new homes including much needed larger family homes but a new public space for the community, much improved transport links and create local jobs and business opportunities.”

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Swan has already delivered 340 homes under Phase 1a and 1b. Credit: Swan Housing Association.