The proposed development includes plans for a new mixed use building of up to 28 storeys, which would be used to provide 48 new homes along with café or retail space, office accommodation and a public piazza.
Developer St James plans to demolish the 11 storey office block that currently stands on the corner of Tinworth Street and implement the proposed plans which have been designed by architect Rogers Stirk Harbour and Partners.
The development was praised by the Design Council Commission for Architecture and the Built Environment (CABE ), which expressed its support for St James' proposed scheme, saying that it "has the makings of a successful urban tower".
The proposed tower development is planned to be built on three levels, ranging from 14 storeys to 28 storeys and would include 46 new homes, offices, shops and restaurants. Of the homes, 12 would be made available for affordable housing.
The new building is planned to be set further back from the street, increasing the width of the footpath along the Albert Embankment and improving the views of the river from Tinworth Street.
In response to concerns over the impact of the height of the building on the London skyline, St James said that it had given "careful consideration" to the impact of the development on "key strategic views and the setting of the Palace of Westminster".
"The massing strategy has been developed to respond to the buildings adjacent to the site and the aspiration of the Vauxhall Nine Elms Battersea Opportunity Area Planning Framework to have a 'varied skyline'," it said.
“We’re expecting up to 3,500 new homes to be built in the Vauxhall area alone within the next ten years," said Councillor Steve Reed, leader of Lambeth Council. "We will continue to work with developers to make sure we get good quality, well designed schemes that contribute towards our vision to recreate a lively riverside town centre.”
The London Borough of Lambeth is working on plans to draw up a Supplementary Planning Document (SPD) for the Vauxhall and Albert Embankment area, which is planned to set out how the area should be developed over the next 10 years. It would also act as a guide for developers when planning schemes on sites in the area.
The Council hopes to publish a draft SPD for consultation in October.