Southwark Council has granted planning permission to developer Notting Hill Housing for it to build 3,500 homes at the Aylesbury estate in Walworth.
Two separate applications were given the go-ahead – one for the development site to the south west of the estate, bordering Burgess Park, and one for outline planning permission for the remainder of the scheme.
The first development site will see 830 homes built, including specialist housing for older people and people with learning disabilities. A community facility and two parks will also be developed.
The outline planning permission is for phases two, three and four of the scheme. This will see 2,745 homes built, as well as the creation of office space, retail units, a public square with a health centre and early years care, as well as open space, such as pocket parks and playgrounds.
Notting Hill Housing said local residents and Southwark Council have been instrumental in developing the plans.
A section 106 agreement will be signed by the end of July, with work on site due to begin in the autumn.
Kate Davies, chief executive of Notting Hill Housing, said: “It has taken a lot of trust, understanding, collaboration, and vision to get here. We are very excited that redevelopment can now commence.”
A new website for the local community, which explains the council's plans for the regeneration of Old Kent Road, has been launched