Plans for more than 350 new homes have been given the go ahead.

Waltham Forest Council’s planning committee approved plans for Blackhorse Yard, formerly Webbs Industrial Estate in Blackhorse Lane, that will include 359 houses all for shared ownership, 2,962sq m of space for shops, flexible workspaces and artists’ studios.

The buildings will range from between two and 15 storeys in height with the tallest at the centre of the development.

All of the proposed homes will have outdoor spaces attached to them as either balconies and communal and private gardens.

The plans were open to public consultation from June 2018 and the council held two drop-in sessions for people to examine the proposals back in June.

The site was previously home to a glass lampshade and bulb factory, but the area has remained derelict for seven years.

Mayor of London Sadiq Khan instructed the Greater London Authority (GLA) to buy the site to redevelop it.

It is the first time any Mayor of London has bought and then sold land to build an entirely affordable development.

The plans also include a play area, 100 new trees, a new pedestrian crossing and cycle lane along Blackhorse Lane.

Cllr Simon Miller, Waltham Forest Council’s cabinet member for high streets, said: “It is excellent news that the planning committee has approved this scheme to provide 359 much needed genuinely affordable homes, available at prices that are linked to local residents’ income, in a part of the borough that is a key growth area. It’s a key part of our commitment to provide a decent roof over all our residents’ heads.

“The provision of studio and retail space in the development means that businesses will also have space to launch and grow, while the new trees and the stream provide attractive open space for residents to enjoy.”

James Murray, deputy mayor for housing at the GLA, said: “We’re determined to ensure Londoners have the homes they so desperately need and that is why City Hall bought this derelict site, to transform it with 100 per cent affordable housing.

“I am very pleased that the companies involved can now begin building hundreds of new genuinely affordable homes on this site and create the artists’ spaces that will ensure the next generation of creatives can flourish in the Mayor’s first London Borough of Culture.”