Work has commenced on the £78.4m transformation of a former east London gravel pit, which will deliver 418 new homes.

Former public land released by London mayor Boris Johnson will be used to provide 116 new homes for affordable rent, 43 residences for shared ownership and 259 homes for private sale by 2019.

‘This is one of the largest regeneration projects ever seen in Dagenham and will transform this site into hundreds of much needed new low cost homes,’ Johnson said.

‘This former gravel pit is part of thousands of acres of land I’m releasing to double the number of homes being built for hardworking Londoners and ease demand for more good quality homes.’

Building work is now underway to create the Lymington Fields housing development, with properties being delivered in partnership with developer Lovell and affordable housing provider Home Group.

Designed by architects Pollard Thomas Edwards, the development will include a mix of two, three and four bedroom houses and one and two bedroom flats.

Lovell regional director, Peter Taylor, said: ‘Its mix of modern and well -designed open market and affordable homes arranged around attractive open spaces will create a modern and exciting community where people are proud to live. As well as meeting the pressing need for quality homes for individuals and families, it will also bring new jobs and training opportunities, ensuring a lasting legacy of benefits locally.’

Home Group director of new ventures, Sean Egan, said: ‘Freeing up surplus public sector land is one easy way in which to increase the number of affordable homes which are available to the people of London and we applaud the mayor for this move.’