AN ambitious £1billion scheme to build 3,500 homes on Deptford's Convoys Wharf was submitted to Lewisham Council this week.

The 40 acre wasteland has been derelict for 13 years and MP Joan Ruddock says the plans are "progress" but is keen the area does not become a "millionaire’s waterfront playground".

Developers Hutchison Whampoa would create shops and restaurants, as well as three new parks, and a 270-metre long jetty on the site of the former historic royal docks.

MP for Lewisham and Deptford Ms Ruddock said: "I am very pleased that progress has been made.

"The developers have respected the enormous historic importance.

"I still think there is concern about the density of housing and about the amount of affordable housing which is what we need for local people and concerns about traffic."

It comes after Lewisham Council approved proposals to alter Creekside's Faircharm Estate which means many artists will have to move out.

Speaking of the overall changes for Deptford, Ms Ruddock added: “They are positive because bringing jobs and homes, but it is always vital that developers have regard for the very special character of Deptford.

"We don’t want it to become a millionaire’s waterfront playground and that is why I have been working with developers to not drive out local people and the character, and I think on balance we are just about managing it."

Director and General Manager of Hutchison Whampoa properties (Europe) Limited Dr Edmund Ho said: "We are delighted with Sir Terry Farrell’s vision for the site, which creates a new urban quarter on Deptford's waterfront.

"Not only does it reconnect this previously inaccessible site back to Deptford High Street  and the surrounding area, it also gives real emphasis to the rich heritage and history of the area.

"The development will also bring employment, training, regeneration and other benefits to the local community.

"We are confident this is the right Masterplan for the Convoys Wharf site, and that it should receive the necessary planning consent later this year.”