The developer Lend Lease has won planning permission for the second phase of its project to regenerate the Elephant and Castle, 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 include a range of one to three bedrooms.
The West Grove scheme is the second phase of the Elephant Park masterplan. 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.
Construction workers will be on site 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 the second phase marked an “exciting step” in the prject.
“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.
A new website for the local community, which explains the council's plans for the regeneration of Old Kent Road, has been launched