It was developed out of a community brief that outlines residents’ aspirations for the area.
The plans are also backed by the English Cities Fund and the London Development Agency.
The proposals have still to receive planning permission and could take 15 years to bring in but the council has agreed to start decanting residents in the first phase development area.
Canning Town is the part of the Thames Gateway closest to central London, near to sites earmarked for possible Olympic development.
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