The South Acton estate scheme, designed by PRP Architects, will replace existing accommodation with 254 new homes and the work will be in two phases over three years.
Work will start next month on phase one, which includes 129 homes, with 113 flats and 16 houses, and is expected to be completed in June 2010. A further 125 flats are due to be completed in April 2011. The homes will be available for shared ownership or rent.
The project is the largest estate regeneration the firms have undertaken and follows the completion last year of the ten-year regeneration of the Church End estate in Neasden.