CATFORD Greyhound Stadium will be redeveloped by Barratt in a £117m scheme bringing 589 new homes, it has been announced.

News Shopper revealed in February how Mayor of London Boris Johnson had approved a new bid to take on the project after previous plans were sunk by the recession.

Now that developer has been revealed as Barratt London, which estimates more than 1,000 jobs will be created in the borough once the 4.7 hectare dogtrack site - closed for more than a decade - is transformed.

Of the new homes, only a fraction, 113, will be at affordable rents managed by Gallions Housing Association - something Lewisham Lib Dems say is a "missed opportunity". Sixty will be shared ownership and 416 available for private sale.

It will also feature 508sq m of retail space, community areas and landscaped links through to Ladywell Fields and Catford town centre.

The site has been released to the developer by the Greater London Authority after it took ownership in 2011.

Mr Johnson said: "The transformation of Catford Dogs, which for the last decade has been left empty and unused, will not only bring hundreds of new homes to the heart of London, but will feed into the wider regeneration of Catford town centre making it an even better place to live and injecting a healthy new dose of jobs and growth into one of the capital’s key opportunity areas.

Planning permission is already in place thanks to a previous application by Countryside Properties and Hyde Housing Association in 2008.

Deputy Mayor of Lewisham Councillor Alan Smith said: "The additional homes and jobs will be very welcome in this part of Lewisham, and the development will sit well alongside our own plans for the rebuilding and improvement of Catford town centre."

But leader of Lewisham Lib Dems Councillor Chris Maines said: "This is publicly owned land in a deal with Barratt and you'd expect more affordable housing delivered.

"There's a housing crisis in Lewisham at the moment."

Work is expected to begin early next year and should be complete by 2017.