Southwark council has approved the final details for the £2.5bn regeneration of the Aylesbury Estate in Elephant & Castle.
Under the Aylesbury Area Action Plan, most of the existing estate will be demolished and replaced by around 5,000 homes built on the site over the next 15 to 20 years.
This will include 2,200 homes for rent under housing association control and around 2,700 homes for sale or shared ownership.
The council approved the final details of the plans at the end of last week.
The plan will now go for a six-week public consultation, before the plan is submitted to the Department for Communities and Local Government for approval.
Southwark council executive member for regeneration, Cllr Paul Noblet, said: “This is an historic document for the council and for Aylesbury residents. For the last 10 years our united hopes and ambitions to regenerate the area have been pored over in such great detail that we all eat, sleep and dream planning regulations.
“This is the first Area Action Plan that Southwark and its residents have developed, and I am sure that the spirit of cooperation that has been evident throughout the process is what has got us to this point.”
The council decided in 2005 that it would be more cost-effective to redevelop rather than regenerate the exisitng estate. The scheme includes the demolishment of more than 70 acres of tower blocks, low-rise flats and concrete walkways in Walworth, south east London.
Plans have been revised as part of an ongoing consulation with residents to reduce the height of some of the proposed blocks to include more family housing.
The first phase will comprise 260 new homes, some commercial space and a new resource centre.
Southwark council has said that the government’s “lower than expected”grant meant it might have to delay the progress of the scheme.
