Wildflower grasslands, woodland trail, dipping pond and river walk will define the eastern part of the site in Bromley-by-Bow.
London Thames Gateway Development Corporation gave the nod to Tesco for 454 new homes, a supermarket and new town centre with shops, library, school and hotel.
The area in Tower Hamlets is one of the most deprived boroughs in the country and public realm work will include cycle ways and more walkways.
Aspect Landscape Planning is working on the green spaces and the first part of the development is due to be completed by 2012.
The corporation's role is to ensure communities surrounding the Olympic Park benefit from a regeneration legacy in the build up to and after the London 2012 Games.
Development director Steve Oakes said: "Bromley-by-Bow is crying out for change; this will act as a catalyst for the sustained renewal of the area.
"Every £1 of public money has brought in £6 of private funds. In these straitened times this is the approach that is needed to deliver both a timely and a real regeneration legacy."
Tesco, said locals welcomed the scheme because of the physical regeneration, new homes, jobs and the riverside park.