The new development — called Quinnat Yard — will be located on the corner of Salmon Lane and Blount Street in a highly desirable area of the capital, in between Mile End Park and Limehouse Basin, just yards from the Regent’s Canal.
The 45 units, designed by On Architecture, will be a mix of London affordable rent and affordable shared ownership.
Southern Grove has exchanged contracts on the site and will now move to a full planning application, expected by the end of the year.
Construction could begin as early as the spring of next year.
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This scheme will take the number of affordable units in the developer’s pipeline to over 700.
Tom Slingsby, CEO at Southern Grove, commented: “This is another great example of how we’re marrying high-end, design-led development with affordable housing, without compromising on quality.
“There is a chronic need for more affordable housing in London and this development will give dozens of families and young professionals the chance to live right at the heart of one of the most popular areas of the capital.
“This scheme means we have more than 700 affordable units in progress and we’re on track to achieve our goal of expanding that pipeline to 1,000 affordable units by the end of the year."