The 17-strong group, co-chaired by Heseltine and housing minister Brandon Lewis, also includes Andrew Boff, leader of the Greater London Authority Conservative group, Labour MP Graham Allen and three housing association chiefs.
The panel will look at how the layout of estates can be best used to deliver more quality homes that people can buy and rent.
Prime Minister David Cameron announced last month that £140m would be made available to jump-start the regeneration.
Government confirmed yesterday this money would be made available in the form of loans to allow communities to unlock additional investment from the public and private sectors.
Heseltine said regeneration was key to transforming the lives of people living on poorly designed housing projects.
“The panel will provide expert advice, support and explore innovative funding solutions to drive forward the regeneration of estates around the country,” he said.
“However, I am clear that this has to be locally led and we must work with the residents of such estates. I now want to see local communities coming forward with innovative ideas to achieve desirable neighbourhoods that local people can be proud of.”
Lewis added these estates offer huge potential to become thriving communities and places where people want to live and work.
“This panel provides a wealth of experience to kick-start work that will help transform the lives of thousands of people by delivering better homes in better estates,” he added.
The panel met at the York Road Estate in Battersea, London where plans are being developed for a major regeneration scheme by Wandsworth Council. Authority leader and panel member Ravi Govindia said: “Here in Battersea we are demonstrating that estate regeneration can be done with the support of the local community. Our approach is centred firmly on improving the lives of Winstanley and York estate residents and to providing new opportunities and better life chances.”
The full list of panel members is:
Housing minister Brandon Lewis
Former deputy prime minister Lord Heseltine
Ravi Govindia, leader of Wandsworth Council
Nicholas Boys Smith, director, Create Streets social enterprise
Andrew Boff, leader of the Greater London Authority Conservative group
Elaine Bailey, chief executive, Hyde Housing Association,
Paul Tennant, chief executive, Orbit Housing Association
Tony Pidgley, chief executive, Berkeley Homes
Peter Vernon, chief executive, Grosvenor Estates
Jane Duncan, president, Royal Institute of British Architects (RIBA)
Ben Bolgar, director, Design Theory and Networks at the Prince’s Foundation
Dominic Grace, head of London Residential Development at estate agents Savills
Emma Cariaga of the British Land and Thames Valley Housing Association
David Budd, Mayor of Middlesbrough
Natalie Elphicke, chief executive of Housing & Finance Institute
Graham Allen, MP for Nottingham North
Felicie Krikler, associate director at Assael Architecture
