The site of the proposed scheme forms part of the Vauxhall Nine Elms Battersea (VNEB) Opportunity Area.
The planning application was submitted by Marcus Cooper Group which has said that it intends to "replace the existing building with a high quality new residential-led scheme that will transform the site and link into the agreed masterplan for the wider area".
Section 106 of the Town and Country Planning Act enables councils to seek contributions towards local infrastructure in order to mitigate the impact of development and to make the development acceptable in planning terms. The section 106 agreement that accompanies this planning consent agrees some substantial planning obligations that will benefit the local area.
Those include a contribution of more than £12 million towards local infrastructure upgrades including two new Northern Line stations; £252,000 towards the Nine Elms Local Employment initiative; £2.5million for affordable housing programmes in other parts of the regeneration area, and £92,500 towards improvements to Battersea Park.
"This scheme would create hundreds of new homes and provide almost £12 million towards improving local services and infrastructure" said Cllr Nick Cuff of Wandsworth's Planning Committee.
The VNEB Opportunity Area contains the Battersea Power Station site as well as other major development schemes. It is also subject to proposals for a long awaited extension of the Northern Line.
