The developer Lend Lease has submitted its latest plans for the regeneration of the Elephant and Castle to Southwark Council, which include building 593 homes and about 4,000sq m retail space.
At 31 storeys, the homes will be contained in the highest building in Elephant Park, positioned above new stores on Walworth Road. Homes will range between one and three bedrooms.
The West Grove scheme is the second phase of the Elephant Park masterplan, and is due to go before Southwark’s planning committee in December 2014.
It follows the launch of 360 homes at Elephant Park earlier this year, built as part of the first phase – South Gardens.
Lend Lease said the 593 homes will be designed to exceed Level 4 of the Code for Sustainable Homes.
If planning permission is granted, construction workers could be onsite in early 2015.
Councillor Mark Williams, cabinet member for regeneration, planning and transport, said: “The regeneration of the Elephant and Castle is now gathering pace. This latest phase will deliver 25% affordable housing, quality open spaces for residents and will really open the development so people can see how it links in with surrounding streets.
Rob Heasman, Lend Lease’s project director for Elephant & Castle, said the submission of a planning application for the second phase marked an “exciting step”.
“We can already see the changes taking place in what will become one of the most sustainable places to live in central London, and the last major urban regeneration project in zone one of the underground,” he said.
Lend Lease added that the scheme has created 284 jobs for Southwark residents to date.
It said that over the next 15 years, the project will create more than 6,000 new jobs – 5,000 during construction and 1,000 in the completed development.
"We've already surpassed one degree of global warming," said Kristen Buida, manager of the London Climate Change Partnership.