The scheme, which is a partnership between Southwark Council, developer Linkcity and Bouygues UK, includes the replacement of 250 council homes and shared equity properties. The new houses include 220 additional council homes, including keyworker homes and 220 homes for private sale.
Other features of the development are a central park, at least 1,800 sqm of commercial floorspace, as well as new pedestrian, cycle and vehicular routes.
Initial work on the site commenced in autumn 2022 and the project is planned to complete in 2030.
The project has involved engagement with the local community, with a community ballot approving the scheme as well as local input on aspects of the design and construction strategy.
The official start of construction was marked by a ground breaking event.
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Speaking at the event, Phillippa Prongué, Linkcity's Managing Director, said: "This is a really significant moment for our team and for Southwark Council, and the culmination of many months' hard work. This project is not really about the physical buildings; it's about the people who will live in them, that's something that has been really clear to us from the first moment we got involved in this project.
"One of the things that we pride ourselves on at Linkcity is the close relationship with our construction partner, Bouygues UK, and nowhere is the strength of that relationship better demonstrated than when we move a project from the design stage to construction and start delivering on the commitments that we have made. We are so pleased how the site team has taken up the mantle of working closely with residents to make the construction process a smooth one."
Commenting on the plans, Deputy Mayor for Housing and Residential Development, Tom Copley, said: "I was delighted to attend the ground-breaking ceremony for this important scheme, which will deliver hundreds of brand new council homes part-funded by City Hall, including homes for keyworkers.
"The local community have been at the heart of this project, which is also delivering green spaces and new pedestrian and cycle routes. Developments like this have contributed to the more than 23,000 new council homes started in London since 2018, and support the Mayor as we continue building a fairer and more prosperous London for everyone."
