A five storey block in Newington Green will be replaced with 72 homes as well as a community resource centre and three retails units.
The development will comprise of 32 homes available for private sale for first time buyers, 28 affordable rent homes exclusively for over 55's, and 12 shared ownership homes.
Work is already underway on site.
Hill and Hanover have previously delivered successful JV projects in North and East London, delivering 159 mixed-tenure homes at Woodside Square in Muswell Hill along with 29 apartments available exclusively to over-55's at Quadra in London Fields and 43 extra care dwellings at Clapton Common.
Paul Jordan, Regional Director of Hill, said: "We are delighted to be working with Hanover to deliver another joint venture project together in London. Developing underutilised land is key to delivering much needed homes across the Capital and we are proud that 56% of the homes at Newington Gate will be affordable. Multi-generational living has numerous benefits for both younger and older residents, and whilst it is growing in popularity across London, developers have a responsibility to encourage this where possible by providing suitable housing.
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"Newington Gate is perfectly positioned for first time buyers and over 55's alike, the surrounding area has a village-like charm whilst vibrant bars, coffee shops and restaurants are just a short walk away in Dalston. Residents will also benefit from excellent transport links as Canonbury and Dalston Kingsland stations are a short walk from the development, with the former offering direct services to Westfield Stratford and the Queen Elizabeth Olympic Park in under 15 minutes."
Claire Anderson, Director of Development at Hanover, added: "Hill is an award winning and trusted housebuilder, with whom we have already worked on a number of new developments in London with. We are delighted to be collaborating with them once again. This will help us deliver much needed high quality, affordable housing and a great new space for the local community.
"As one of our primary locations for new properties, Newington Gate brings further investment in the Hackney area, creating 72 new high quality apartments. Once complete, these well-designed and spacious homes will be set amidst beautifully landscaped areas that will enhance the environment well beyond the boundaries of the site."
The first Newington Gate homes are expected to be complete in summer 2020.
(CM/MH)
