The scheme, which will be developed on the site of a current Homebase store in Swandon Way, will see 55% of it's 'affordable' housing delivered during the first phase after Mayor Sadiq Khan used his planning powers to 'call in' the plans.
Wandsworth Council has previously refused permission for the development in April this year due to the height and scale of the development, and its proximity to a nearby conversation area. The original plans included 348 residential units with 23% of the housing to be made 'affordable'.
However, Mayor Khan 'called in' the plans and has now increased the number of homes to 385, as well as raising the level of 'affordable' housing to 35%, meaning 136 of the homes in the approved plans will be 'affordable'.
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With over half of the 'affordable' homes now being delivered in the first phase, the Mayor has also agreed to a review mechanism, which could see affordable housing increase to as much as 50% if an agreed level of progress is not made on the development within two years.
Other proposals will see the developer contribute £2.5m towards a new entrance to nearby Wandsworth Town station, with further plans including substantial cycle parking, retail and commercial units, and improvements to public spaces.
This is the second time in two weeks that the Mayor has used his planning powers. Earlier this month, he approved plans for 185 affordable homes in Mill Hill after intervening to double the amount of affordable homes to 40%.
The Mayor of London, Sadiq Khan, said: "I've made it clear I am committed to increasing the delivery of genuinely affordable housing in London, especially given the pitiful legacy I inherited, and I will use my full range of planning powers to achieve this.
"This development offers a significant number of high-quality homes in a location which offers great transport links and local amenities. We have confirmed more than half of the affordable homes will be delivered up front in the first stage of construction.
"I'm also really pleased we have secured a review mechanism which could increase the level of affordable housing further – and that people who live and work in the area will benefit from a significant upgrade to Wandsworth Town Station."
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