The planning decision paves the way for demolition contractor DDS Group to start clearing later this year the first of three key sites in the Church Street neighbourhood.
The Church Street Regeneration Programme will deliver up to 1,120 new homes and will ensure the re-provision of all existing council homes with new higher quality council homes for social rent with affordable homes making up over 50% of the homes delivered in the scheme.
Across all three sites, blocks containing around 400 homes will be demolished to make way for the scheme, which will also see improvements made to the historic market.
Westminster Council has committed to self-fund the cost of construction of phase one, estimated to be worth £250m – £280m.
Subsequent phases will be negotiated with a selected developer as the regeneration scheme proceeds.
The potential estimated value of all the sites under the planned future sites agreement has been estimated at nearly £600m, also comprising site B (£209m), site C (circa £102m) and market works (£4.5m).