A planning application for a new square, shopping area and 19 homes in front of Peckham Library has been submitted to Southwark Council.
Proposals involve the removal of Peckham Arch and the construction of two new buildings of four and six storeys facing Peckham High Street, with a landscaped public space in between.
One of the buildings will host 255sq m of gallery space on the ground floor and homes on the upper floors.
The other building will contain 201sq m of co-working space and 82sq m of office space on the ground floor and new homes on the other floors. The council said over 35% of the new homes will be allocated as affordable.
Councillor Mark Williams, cabinet member for regeneration and new homes, said: “We know there are strong feelings about the arch, which has been a landmark for the town for many years.
“When we looked at the long term plans for Peckham and the acute need for new homes, especially bigger homes for families in social housing, and affordable office and work space, we concluded that removing the arch was the best way forward."
The council worked with Carl Turner Architects to design the scheme, involving the local community in the process.
The application can be commented on at this link.
A new website for the local community, which explains the council's plans for the regeneration of Old Kent Road, has been launched