The development of five new tower blocks, designed by Hawkins Brown, will create more than 15,000 sq ft of mixed-use space, with retail, office and community uses, as well as housing for rent.
Landscaping includes a civic square outside a proposed new station entrance to Wandsworth Town station.
The Wandsworth Homebase site – New Acres – will be the second scheme delivered by Vistry Partnerships for Legal & General in London and the third nationwide.
The brownfield site is bordered by Wandsworth Town railway station, main railway lines into London Waterloo Station and a dual carriageway.
Construction work has recently started and is planned to complete in spring 2024.
Vistry Partnerships chief executive Stephen Teagle said: “This significant, mixed-use project will play an important role in providing additional housing choice for the local community. The build to rent Sector has a key role to play combatting the nation’s housing crisis, particularly in larger towns and cities, and Legal & General’s Wandsworth combined site will be a great place to live.
“We have established an excellent partnership with Legal & General, creating high quality homes for rent at on previous schemes in Walthamstow and Bristol, and we are looking forward to delivering this exciting new project in Wandsworth.”
Dan Batterton, head of residential for LGIM Real Assets, added: “New Acres, Wandsworth, will be a flagship build to rent development in the UK… This is a significant urban regeneration project, delivering much needed new homes and bringing brownfield sites back into effective use.”