Southwark Council has approved the next phase of the Elephant & Castle regeneration.
Lend Lease has gained planning permission for 593 homes and 43,000 sq ft of shops at Elephant Park.
The latest phase – West Grove – is the second phase of the Elephant Park development scheme.
Construction is expected to start later in 2015 and homes are expected to be on sale Q1 2015.
Nearly 2,500 new homes will be built on the site between now and 2025.