The planning agreement with the London Borough of Newham provides for the Biota! project and a contribution of £25 million towards the cost of infrastructure and local community benefits including a multi-use community centre, a modern library, a major new health centre and a primary school with nursery facilities.

There will also be new public open spaces and landscaping, better pedestrian, bus and cycle routes and a new pedestrian bridge across the North Woolwich Road to the new Docklands Light Railway station, which will be subject to an early architectural competition.There will also be high quality restaurants and retail units in what will become a "lively town centre".

Over £1m has been committed for training local people. It is expected that upwards of 2,000 jobs will be created with 25 per cent earmarked for Newham residents along with 25 percent of the construction jobs. Ten per cent of the construction jobs will be apprenticeships.

The developers have secured a £119m loan facility from the Bank of Scotland which will be used to finance the development.