The huge redevelopment of an empty brewery has been given the green light by the Government.
The Ram Brewery development in Wandsworth Town includes a 36-storey tower and will create 661 new homes, shops and leisure facilities on the derelict site.
Both Local Government Secretary Eric Pickles, and the Mayor of London, Boris Johnson, have now given their backing to the development.
An original planning application submitted in 2008 was rejected by Mr Pickles, which proposed two skyscrapers, 1,000 apartments and 200,000 square feet of retail space.
Developers Minera revised plans to include only one tower, while the site's Grade II and Grade II* listed buildings will be restored.
Tim Garnham, joint chief executive from Minerva, said: "Having worked so closely with Wandsworth Council over many months, we are naturally delighted that the Ram Brewery redevelopment has been given the go ahead by the Secretary of State.
"The decision marks a further step forward to the delivery of new homes and the regeneration of Wandsworth town centre."
A spokesman for the council said: "We are extremely pleased that both the Secretary of State and the Mayor of London have given this scheme their backing.
"Instead of being a site associated with locked gates and derelict buildings, this area of land in the heart of Wandsworth town centre will be transformed through the creation of hundreds of new homes, shops and leisure facilities.
"A new pedestrian quarter will be created complete with riverside walks, a public square and heritage attractions like a museum and micro-brewery."
Building work could begin as early as next year.
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