Peckham Car Park is to be transformed into a space for art and photography studios, shared workshops, print facilities and galleries.
Southwark Council approved plans last month (November) for the Peckham Levels project, put forward by Pop Community, a partnership between Carl Turner Architects and property company, The Collective.
The project will feature 50 “affordable” studio and workshop spaces, as well as multi-use events space, which will be available to use free-of-charge for local community groups.
It will occupy six levels of the building, with a gallery and a performance and events space on levels five and six.
The top floor will continue to be occupied by the rooftop bar Frank’s Cafe and arts organisation Bold Tendencies. Peckham Plex cinema will continue to occupy the ground floor.
The council has said the scheme will create 600 jobs. Councillor Mark Williams, cabinet member for regeneration and new homes, said: "As a council, we have promised to create hundreds of new affordable work spaces for the creative industries, and this appointment is the start of us delivering on that promise.
“Although the car park is still earmarked for development in the long term, we have the opportunity now to help local residents set up new businesses and provide space for local artists.”
"We've already surpassed one degree of global warming," said Kristen Buida, manager of the London Climate Change Partnership.