The approved plans will deliver 3,365 new homes alongside 460,000 sq ft of retail and leisure space plus a new transport interchange.

The development, masterplanned by Howells, will also include 463 student units.

John Mulryan, Group Managing Director at Ballymore said: “Town centres and our local high streets are the beating heart of London’s communities – by enabling their success we create opportunity for jobs, growth, connection, and foster pride of place.

“Our shared vision for Edgware will breathe new life into the town centre – transforming it into a more vibrant, inclusive, and welcoming place for residents, businesses, and visitors alike.

“We are immensely proud of these proposals, which are the result of five years of local views and deeply value the input we’ve received throughout the process. We are excited by the masterplan that has emerged and look forward to continuing our work with the community and our partners to bring this vision to reality.”

Since acquiring the Broadwalk Shopping Centre in 2020, Ballymore has undertaken more than four and a half years of sustained engagement with residents, community groups, and interested stakeholders.

Planned new legislation will make it a legal requirement to fix buildings 18 metres or taller by the end of 2029. Buildings between 11 and 18 metres must be remediated by the end of 2031.

Landlords who miss the deadline without a valid excuse could be prosecuted and handed serious penalties.

The new law will also give Homes England and local councils power to step in and carry out works directly where landlords fail to act.

Deputy Prime Minister and housing secretary Angela Rayner said the new Remediation Bill sent a clear message to landlords.

The crackdown is part of the second phase of the Remediation Acceleration Plan. It comes alongside a fresh £1bn investment to support the social housing sector in speeding up cladding removal.

Housing associations and councils will now have equal access to government funding to get jobs done with immediate effect.

Building safety minister Alex Norris said the new rules remove excuses and create a clear path to fix every unsafe building in England.

The government is also funding help for leaseholders including new long-term support to replace costly Waking Watch patrols. In exceptional cases buildings under 11 metres could also qualify for remediation funding.

A new National Remediation System is being rolled out to track progress and hold landlords to account. Local authorities and metro mayors are also being backed with over £5 million to support locally focused remediation plans.

The government’s Building Safety Levy will come into force from October 2026 and is expected to raise £3.4 billion over the next decade. Exemptions will apply to affordable housing, supported housing and small schemes under ten units.

Since the launch of the Remediation Acceleration Plan in December 2024 over 24,000 more residents are now living in safe buildings. Ministers say that number must continue to rise until every dangerous block is fixed.

The redevelopment will deliver 1,928 new homes over four phases, alongside community facilities, public spaces and a fully relandscaped Langdon Park.

The project will include a new mosque and significant investment in local infrastructure.

The first phase will now start on site next year delivering 475 new homes with first completions expected by 2028.

Designed by architects BPTW, the masterplan spans eight hectares and includes a mix of studios, apartments and family homes.

Andy Hill, founder and Group Chief Executive of The Hill Group, said: “This is a landmark moment for Teviot and a major step forward in delivering lasting change for the community.

“Securing planning permission means we can now move forward with our shared vision, which prioritises creating high-quality homes and improved communal spaces that reflect the needs of residents. We look forward to continuing our partnership with Poplar HARCA and the local community to bring these plans to life.”

Paul Dooley, Director of Regeneration and Development at Poplar HARCA, added: “We’re proud to have secured planning permission for the regeneration of Teviot, a nationally exemplar project, shaped in genuine partnership with the community. This is a real win for residents who gave their time and efforts to make sure this masterplan delivers the things that are important for local people.

“The plans include a mix of affordable homes, with a strong focus on family-sized housing to tackle overcrowding in Tower Hamlets, as well as investment in community facilities and projects that will benefit the neighbourhood for years to come. We’re excited to get started on delivering these plans and working in partnership with Hill to build a brighter future for Teviot.”

The full regeneration is expected to be completed by 2042.

• Biggest grant funding boost in a generation

• Rebuilding the sector’s borrowing and investment capacity

• Stronger regulatory oversight

• Kickstarting council house building

• A renewed partnership to build at scale

Homes England will oversee the majority of funding, with up to 30% – £11.7bn – earmarked for the Greater London Authority.

The government will also introduce a new 10-year rent settlement from April 2026, alongside an overhaul of Right to Buy rules to protect council housing stock and boost new delivery.

A modernised Decent Homes Standard will be rolled out and extended to the private rented sector for the first time. Social housing will be covered by new Minimum Energy Efficiency Standards.

Rayner said: “We are seizing this golden opportunity with both hands to transform this country by building the social and affordable homes we need.

“With investment and reform, this government is delivering the biggest boost to social and affordable housing in a generation, unleashing a social rent revolution, and embarking on a decade of renewal for social and affordable housing in this country.”