Green light for Silvertown Quays

Silvertown Quays will consist of new homes, offices and leisure facilities

A £1.5bn development in east London, close to the site of the Olympic Park, has been approved.

Silvertown Quays in the Royal Victoria Dock will consist of new homes, offices, workspace, retail, leisure and entertainment facilities.

The redevelopment was approved by the London Borough of Newham after the confirmation of planning approval by developer Silvertown Quays Ltd.

Work on the development is due to start in a few months' time.

This fantastic scheme will bring new life to this part of the old docks London Development Agency, Chief Executive, Manny Lewis

The waterside regeneration development will include 5,000 new homes, including over 1,300 affordable units.

Community facilities include a multi-use community centre, a library, a new health centre and a primary school with nursery facilities.

David Taylor, Chairman of Silvertown Quays Limited, said: "Silvertown Quays is an important development for the capital, bringing a world-class tourist attraction to an area of London that will see considerable benefits as a result."

London Development Agency Chief Executive Manny Lewis said: "This fantastic scheme will bring new life to this part of the old docks. It is yet another boost to East London, close to the 2012 Olympic park site."

An estimated 2,000 jobs will be created with 25% guaranteed to Newham residents as well as 25% of jobs in the construction industry, with 10% being apprenticeships.