Orbit will replace six high-rise blocks with 620 family homes for around 2,000 people, with work due to start on site from March 2013.
The five-year scheme is being funded by the Homes & Communities Agency and represents one of the largest projects of its type in London. Other partners are LB Bexley and architects Broadway Malyan.
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The development will co-ordinated by Orbit Homes and the area managed by Orbit South. It will include a mix of house and low rise apartments for rent, sale and low cost home ownership.
Wates Living Space were selected after a competitive tendering process.
Orbit Homes Managing Director, Paul High, said: "Wates Living Space has a fantastic track record of delivering high-quality homes.
"We are delighted to be working in partnership with them, local people, LLB Bexley and Broadway Malyan to transform this area."
(CD/GK)
