Beside the Ford Stamping Plant, the Beam Park development is also expected to create thousands of new homes for local residents.
Developers Countryside and L&Q have submitted a joint planning application to build up to 2,900 new homes on the site.
The homes will aim to include 35% affordable housing and the developers have said the scheme will include a mixture of sizes and tenures.
As well as almost 3,000 homes, there will be a new medical centre as part of the development and two new primary schools – one in each of the boroughs that the development spans: Barking and Dagenham and Havering.
The developers are also planning to include a new railway station, new commercial and retail space, as well as a nursery and community facilities and a multi-faith centre.
The scheme will be made up of one, two and three-bedroom apartments, as well as family homes and will be a 10-minute walk from Beam Valley Country Park. Developers are aiming to start construction later in 2018.