A new housing zone has been approved by the Mayor of London which could see 2,500 new homes being built in a 'key regeneration site'.

The area, in Blackhorse Lane, Walthamstow, has already received nearly £200million in private investment and Waltham Forest council says the build will create 1,000 new jobs.

The decision comes with the news that Blackhorse Workshop, a commuity DIY centre, will receive nearly £170,000 in grants from the Greater London Authority.

“The Blackhorse Lane area is a key regeneration site with perhaps the greatest potential for improvement of any part of the borough,” said Councillor Clare Coghill, cabinet member for economic growth and high streets.

“It is situated right on the edge of the Lea Valley Park, has a strong small business base and a young population, not to mention great rail and tube connections into the city centre.”

In 2012 the council received £1million Mayor of London’s Outer London Fund for regeneration projects in Blackhorse Lane, including the recent expansion of Willowfield secondary school.

“Developments such as Papermill Place and the Blackhorse Workshop have already come to fruition, and the £8million project to develop London’s largest nature reserve in the shape of Walthamstow Wetlands will soon get underway,” said Cllr Coghill.

Blackhorse Workshop were successful in their bid for nearly £170,000 from the GLA’s High Street Fund.

Creative director of Blackhorse Workshop, Harriet Warden, said, “We are absolutely delighted to be able to put our future plans into action, and it will be transformative in terms of what the project is able to do.”