PLANS for a multi-million pound redevelopment of a housing estate have been given the go-ahead by the Mayor of London.

On June 3 Boris Johnson approved proposals for a radical revamp of the Ferrier Estate in Kidbrooke, one of the largest and most deprived housing estates in the country.

The crumbling properties will be replaced by 4,398 new homes, of which around 1520 will be affordable, as well as commercial retail hub and a range of community facilities including a school and an NHS health centre.

The Mayor said: “This is another great example of pushing ahead with major development and infrastructure improvements to create jobs, support the capital’s economy and transform the quality of life for thousands of Londoners.

“For far too long the residents of this estate have suffered as a result of poor, ill thought out design and planning."

He added: "Now we have the chance to put that right. These plans clearly put people and communities first and signal an incredibly bright future ahead for Greenwich and its residents.”

News Shopper: The new estate will feature a school and an NHS health centre

The approval at the Mayor's strategic planning meeting put the final rubber stamp on a 15-year project costing £1bn being led by the Greenwich Council in partnership with developer Berkeley Homes.

In fact the demolition of the 1,900 homes has already begun and the process of re-housing council tenants started as early as 2004 with around 1,000 homes already now empty.

Greenwich Council expects all remaining households to have moved by 2012 while residents have the option to move back to the estate if they wish.

The Ferrier estate was built in 1974 but over the years has become run-down and heavily vandalised while its residents have suffered huge problems with pests including rats and mice.