Plans for the redevelopment of a major factory in Greenwich Peninsula have been approved by the council's planning board.
Members approved proposals to upgrade the Alcatel-Lucent factory on the west side of the peninsula, securing up to 400 jobs at the site.
The development includes plans for nearly 300 new homes and new open spaces and will create a number of new jobs while construction takes place.
In total more than £6billion is being invested in Greenwich Peninsula over a number of years.
The plans are now subject to approval by the Mayor of London.
Council planning board chairman Councillor Ray Walker said: “We’re proud of the industrial heritage of the area and the important role sites like this play in our riverside industries.
“If also approved by the Mayor of London, these plans will provide a major revamp for the area, upgrade the factory meaning we keep a number of local jobs in the area and we will see more quality new homes built at the Peninsula.”