Property developer Berkeley Homes has acquired three industrial sites near the Old Kent Road, where it is planning to create a mix of new homes, commercial space and public realm.
The redevelopment project is for the former Hygrade Meat factory on land designated as an Opportunity Area by the council. It is estimated the project would bring five acres of land back into use. The industrial sites are located on Bianca Road, Acorn Wharf and Surrey Wharf.
Southwark Council has said the proposals will include affordable housing, helping it to reach its target of 11,000 council homes
Councillor Mark Williams, cabinet member for regeneration and new homes at Southwark Council, said: "In Southwark we are tackling the housing crisis head on by building new homes for our residents, including new council homes.
“We have big plans for the Old Kent Road and we are currently consulting with local residents about how we can deliver new homes, new jobs and more green spaces in the area.”
"We've already surpassed one degree of global warming," said Kristen Buida, manager of the London Climate Change Partnership.