Plans for more than 300 new homes and additional retail space near Peckham town centre have been approved by Southwark Council.
Notting Hill Housing association’s 333-home development will be constructed on the site of the former Wood Dene estate, off Queens Road, which was demolished six years ago.
The homes - 117 of which are set to be affordable - will be built in three blocks, ranging in height from two to nine storeys. The development will also include 450 sq metres of "flexible" retail or business space.
As well as private and communal garden areas and a new “pocket park”, the scheme will also include improvements to nearby public spaces on Queens Road and Hollydene.
Councillor Fiona Colley, Southwark’s regeneration lead member, said the new homes were a very appropriate use for the vacant site.
"When there is such demand for housing in Southwark, it's a terrible shame that a prominent site like Wood Dene has sat empty for such a long time,” she said.
“I'm really pleased that we've found a developer who has ambitious plans for the area, and is also committed to providing the affordable housing that many of our residents really need.”
The application will now pass to London mayor Boris Johnson for approval.
"We've already surpassed one degree of global warming," said Kristen Buida, manager of the London Climate Change Partnership.