Property developer Berkeley Group will build over 3,000 new homes at the 88-acre brownfield site in Southall.
Work is expected to begin on the Southall Waterside project in early 2016,
As the largest regeneration scheme in west London, the project will comprise of 3,750 new homes, 500,000 sq ft of commercial space, a two-form entry primary school, a health centre and a substantial green outdoor space.
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Other features include a network of safe cycle paths and walkways, leisure and play spaces along with piazzas.
A detailed planning application for Phase A of the development is expected to be submitted shortly.
Plans include around 618 new homes, of which 186 will be 'affordable'. Other features of Phase A involve roads, parking, landscaping and access to public realm.
Sean Ellis, Executive Director, Berkley Group, said: "These gasworks closed almost 50 years ago, so approval of the Southall Waterside masterplan marks the start of an exciting new future for this 88 acre site."
Council Leader Julian Bell added: "There is a severe shortage of housing across the capital and we need new developments like this to bring thousands of much needed new homes to the borough."
The scheme will be delivered in a number of phases over a 25-year period.
(LM)
