West Ham United have reached an agreement to sell the Boleyn Ground to London developer Galliard Group once the club move to the Olympic Stadium in 2016.
Hammers vice-chairman Karren Brady told the club website: "We opted to reach an agreement with Galliard because they are a local London developer and employer with origins in east London.
"We know they are committed to working closely with the local community and Newham Council on proposals to transform the site into a residential and retail village, which will benefit the local community and east London's regional economy.
"The deal demonstrates that we have been true to our word by securing the regeneration of two areas of east London through our move to the Olympic Stadium in 2016.
"In addition, and most importantly for us, we can see that Galliard are passionate about working with West Ham United to engage their supporters to help deliver a fitting legacy that will honour the tradition of the famous ground.
"We are confident that West Ham United fans will be excited about their vision and the way they plan to respect more than 100 years of West Ham history at Upton Park."