The first phase, Meridian One, is located around the new Meridian Water train station and includes a high proportion of affordable homes as well as new public squares, shops and leisure facilities. The first new homes are expected to be available in 2022.
Outline planning permission is already in place for the new homes, with construction enabling work having started in January 2017.
Stephen Teagle, chief executive of Galliford Try Partnerships, said: "We are delighted to have been selected to work in close partnership with Enfield Council and the local communities on the delivery of Meridian One as a new, vibrant mixed-use, mixed tenure neighbourhood. We will provide high quality affordable homes, opportunities for local start-up businesses to flourish and great public spaces. It's a great opportunity to demonstrate responsible and accountable regeneration through a responsible, accountable partnership."
Over the next 20 years the regeneration scheme is expected to deliver 10,000 new homes with a gross development value of £6bn.
In all, 17 developers and housing associations expressed an interest in delivering Meridian One; 10 submitted bids and four were shortlisted – Galliford Try, L&Q, Peabody and Redrow.
The search for a developer for Meridian Two, at Leeside Road has also started. That scheme will deliver 200 affordable homes and will use workspace on the lower floors earmarked for makers and creators.
Enfield Council Leader Nesil Caliskan said: “We are extremely excited to be working with Galliford Try Partnerships as they have demonstrated that they will be able to deliver quality, well-designed homes in a timely manner and social infrastructure that reflects the Meridian Water vision.
“This is a clear demonstration of the progress we are making and the confidence the development community has shown in the Council to deliver one of London’s most exciting regeneration projects.
“I see Meridian Water as an extension of the local community and I am confident that Galliford Try will deliver a scheme that will benefit local people and the community first and foremost and in addition, will provide affordable homes and quality jobs in Enfield.”