Kodak is selling off part of its north-west London site, some of which will be used to build around 1,000 new homes.
The London Borough of Harrow has approved plans by Land Securities for the development of retail, community and leisure facilities.
Commenting on the regeneration project, a Kodak Limited spokeswoman said: ‘Kodak is in contract to complete the sale of only part of the Harrow site which is now redundant to current manufacturing requirements.’
She added: ‘The redevelopment at the site is on land surplus to Kodak’s current requirements.’
Kodak produces photographic paper in Harrow, and says it will continue manufacturing operations there.
The firm does not plan to lease any of the land.
The Land Securities masterplan includes building around 985 new houses and apartments, and the potential to generate 1,500 jobs over the next 15 years.
Colette O’Shea, head of Development at Land Securities said: ‘These proposals will breathe new life into Harrow, create jobs and greatly enhance the public green space and amenities in the area, enabling this genuinely inspirational place to be at the heart of the borough.’
In January, Kodak said it was ‘business as usual’ in the UK, despite Eastman Kodak filing for bankruptcy protection in the US and announcing plans to stop making cameras.
At the time , Kodak said it employs around 5,000 staff in the UK; at Hemel Hempstead, Harrow, Kirkby near Liverpool and Annesley in Nottinghamshire.