English Partnerships has given Greenwich council £45m towards the regeneration of Kidbrooke, which is the councils biggest-ever modernisation programme.
Deputy council leader Peter Brooks said: “The money from English Partnerships is good news for local residents who are now a step closer to benefiting from one of the biggest regeneration schemes London has ever seen.
“The massive regeneration of Kidbrooke is one of the most ambitious plans we have ever had. The package of improvements will better the lives for thousands of residents and businesses by providing new homes, improved transport links, new community facilities and access to new training and job opportunities.”