The London Borough of Barking and Dagenham has awarded planning permission for Becontree Heath subject to a section 106 agreement being finalised.
The housing development will comprise 170 new homes, a replacement bus terminus and retail space for a local pharmacy.
Countryside will be supported by the Greater London Authority in this project.
The housebuilder submitted plans to provide 124 privately owned homes (comprising 82 apartments and 42 houses) along with 46 shared ownership apartments.
Andy Fancy, operations director at Countryside Partnerships, said: “This site has been designated for a residentially led development to meet the growing demands for new homes locally.
“We have had an excellent response and great cooperation from the local community and London Borough of Barking and Dagenham during the consultation on this development.
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“We believe that our plans for Becontree Heath will transform the area, while providing much-needed homes to the region and supporting new and existing communities.
“Through the development agreement, we will be upgrading the existing bus terminus and building retail space for a local pharmacy to ensure that this is a neighbourhood that is well-served by local amenities and transport infrastructure.”
John East, strategic director of growth and homes at Barking and Dagenham Council, added: “Countryside put forward a high-quality, well-designed scheme that will deliver much-needed housing in the borough.
“This development forms an important part of the council’s wider strategic ambitions for Heath Ward, with the landmark Becontree Health Leisure Centre delivered in 2011 and the Coventry University campus at Dagenham Civic Centre opening to students this September.”