The Market Estate, in Islington, is being rejuvenated as part of a multi-million-pound scheme that includes £1m for neighbouring Caledonian Park.
The accolade coincides with the completion of the second phase of the revamp of Caledonian Park. These changes include a new park entrance, the planting of around 100 new trees and the completion of extensive drainage works to the Great Lawn.
Southern Housing Group's regeneration director Valli van Zijl said the design panel had been impressed with the fact that the scheme met many of CABE's Building for Life criteria.
The Market Estate competed against a shortlist of housing schemes across southern England to pick up Southern Housing's design award. The project team included Whitelaw Turkington as landscape architect.