Almost 600 new homes are to be built on the Lakes Estate as part of £125m regeneration programme.
These will include 279 much-needed council houses.
The plan, due to be approved by Cabinet on Thursday, is to demolish the existing Serpentine Court area and spend £105m on building the new rental homes - plus 310 private homes to sell off.
There are also plans to build a new community centre, nursery, shops and two new playgrounds.
Warren Park will boast a new skate park and event area, while the entire estate will benefit from improved parking, better redway and new bus stops.
The council also plans to spend £4m on a purpose-built energy centre and green initiatives such as heats pumps instead of gas boilers for the new housing, solar panels and electric car charging points.
Cllr Nigel Long, Labour Cabinet member for Housing and Regeneration said: “I am pleased to make public our £125 million investment in replacing the dreadful Serpentine Court with a new modern mixed tenure development that reflects residents choices and aspirations.”
He added: “But the new development is not just about housing. It is about new community facilities, including a new nursery and new play areas, plus an enhancement of Warren Park that sites alongside the new development.”