The existing housing on the estate will be demolished and replaced with new-build residential, 38% of which will be affordable, plus 37,000m2 of commercial and shopping space, community facilities, a new primary school, and recreational space.
The ВЈ1bn scheme was approved by Greenwich council in April, and demolition work has already started.
The council began decanting people from Ferrier in 2006. Previously it was home to 5,000 people.
The estate also formed the backdrop for Gary OldmanвЂ™s film Nil by Mouth.