West Ham United Football Club (WHU) has agreed to sell its Upton Park stadium to developer The Galliard Group when the club completes its move to the Olympic Stadium in 2016.
According to WHU, Galliard won the bidding due to its links to the local community and its commitment to "honour the history of the Hammers" at the Boleyn Ground as part of its proposed development.
Galliard's plans include a mixed-used projects with leisure, retail and new homes and there are plans to establish a central garden park named after the late WHU legend Bobby Moore.
Fans and local residents will also be invited to enter a poll to name each building after a legendary player or an historic event at the Club. Galliard has appointed Sculptress Frances Siegelman to create a statue of Bobby Moore and other artwork celebrating the heritage of the Football Club.
The current West Ham memorial garden by the front entrance to the grounds will also be retained, protected and incorporated into the new development.
The development, which will have a construction programme of some 30 months, has an anticipated completion date of late 2018.
WHU vice chair Karren Brady said: "We opted to reach an agreement with Galliard because it is a local London developer and employer with origins in east London.
"We know it is committed to working closely with the local community and Newham Council on proposals to transform the site into a residential and retail village, which will benefit the local community and east London's regional economy.
"The deal demonstrates that we have been true to our word by securing the regeneration of two areas of east London through our move to the Olympic Stadium in 2016."
