London mayor Boris Johnson has approved plans for the £1bn regeneration of the Ferrier Estate in Kidbrooke, one of the largest and most deprived housing estates in London.

Proposals for the estate, which was built in 1974, include the redevelopment of the Thomas Tallis secondary school to provide a dual-use gymnastics centre, a martial arts dojo, a floodlit, all-weather pitch and a six-court sports hall. A theatre and performing arts spaces, music facilities and classrooms for adult education are also included in the scheme, which will be centred around a 130m (426.5ft)-wide park featuring a series of 'rooms' dedicated to a specific use, such as sports, culture and wildlife.

The scheme is being led by Berkeley Homes and Greenwich Council, which approved the development plans in April, and will be delivered in partnership with the Homes and Communities Agency and Southern Housing Group. It is expected that the first residents will be able to move into the new housing element of the scheme in 2010, with demolition already underway at the site.

Johnson said: "For far too long the residents of this estate have suffered as a result of poor, ill thought out design and planning. Now we have the chance to put that right. These plans clearly put people and communities first and signal an incredibly bright future ahead for Greenwich and its residents."