Wates is the contractor for the scheme, which involves redeveloping the 326 residential units around Southmere Lake, which the Tavy Bridge itself spans. The planned development will comprise 880 units and will require the demolition of some of the existing buildings.
A spokesperson for Gallions Housing Association confirmed that Broadway Malyan was working on the scheme and added that the project went beyond the confines of the immediate bridge area. The spokesperson said: "The aim is to regenerate the whole residential estate and the shops along Binsey Walk."
The project team has yet to submit a planning application to Bexley council but has been in talks with its planning and regeneration team. An environmental impact assessment will also be required.
The project is expected to cost £50m, most of which will come from the private sector. However, Tavy Bridge is one of the schemes earmarked by the government for direct assistance via the Sustainable Communities Plan.
The aim is to regenerate the whole residential estate and the shops along Binsey Walk
Gallions Housing Association, spokesperson
It received £10m from the Office of the Deputy Prime Minister, which was a slice of the £330m of government funding John Prescott allocated to the regeneration of the Thames Gateway.
Tavy Bridge, in the heart of South Thamesmead, has established the area in the public mindset as one dominated by soulless concrete blocks. Prescott regularly uses keynote speeches at regeneration conferences to blast the type of design Thamesmead represents as "Clockwork Orange architecture".