According to reports, property consultant GVA, working in partnership with Wandsworth Council, presented four options to the residents of the York Road and Winstanley estates. The preferred option was formulated by architects Levitt Bernstein and would see most of the existing buildings dating from the 1960s and 1970s demolished.
The plans involve the demolition of around 700 properties, with between 700 and 1,050 new homes being constructed in their place. The plans also include provision for a park, leisure centre, library and community centre.
Wandsworth Council has said that every council tenant and resident leaseholder who needs to move out of the old buildings will be offered a new home on the estate or close by.
The proposals will now go before councillors and, if approved, further consultation on the details of the scheme will be held in autumn.
Work on the proposals, which include improvements to Clapham Junction station, could start in 2016.