The Elephant and Castle-based neighbourhood hub has received a boost in its fundraising efforts, following a donation from Sadiq Khan's office.
The project aims to transform two underused courtyard sites into gardens, a community centre and workspace studios in the Lamlash Garden.
The Lamlash Garden team said: "The Castle Place project is a vital scheme for the community, where families and friends can enjoy a fantastic green space in the heart of London. We promise to deliver long-term, affordable workspaces for the creative industries, as well a great community centre for residents and visitors alike."
By turning Lamlash Garden, a reclaimed public street, into a community garden, new cycling routes will be accessible to people using the space.
A new website for the local community, which explains the council's plans for the regeneration of Old Kent Road, has been launched