Wandsworth Councillors have approved plans to redevelop the derelict Ram Brewery in Wandsworth Town, a project expected to create 661 new homes and more than 500 permanent jobs.
Ten per cent of the new homes would be affordable units with priority going to existing Wandsworth residents.
The brewery, which was a major local employer, stopped wholesale production several years ago.
The approved plans include constructing a 36-storey residential tower, creating more than 10,000 square metres of commercial space and restoring the site’s historic buildings to create a new micro-brewery and brewing museum.
In addition, the banks of the River Wandle will be opened up as part of 1.2 hectares of new public open space.
Developers Minerva will pay a £16.5m community infrastructure levy (CIL) as part of the scheme’s approval.
Wandsworth council says this money could help pay for a redesign of the local one-way-system which currently “cuts the town centre in two and blights the high street with four lanes of traffic.”
The council is working with TfL to develop a new road system which would rechannel through traffic and reconnect both side of the town.
If the value of private homes on the development rises the developer will provide a further £1.2 payment towards building more affordable housing in the local area.
Nick Cuff, Wandsworth Council’s planning chairman, said: “The brewery site forms a gaping hole in the very centre of Wandsworth Town, surrounded by walls, locked gates and derelict buildings.
“This development would open it up as a new pedestrian quarter complete with riverside walks, public square and fantastic heritage attractions like a museum and micro-brewery. The new walking routes it offers would really help to join up the town centre.”