The new Northern Line tube station will be at one end of the main street, called the Electic Boulevard, and the Power Station at the other.
Fresh images of Battersea Power Station have been released, showing how it could look after being redeveloped.
The redevelopment of Battersea Power Station, one of the best-known sights in London, will begin later this year, its new owners have said.
In total, Phase 3 will comprise 1200 residential units, a 200 room hotel overlooking both the town square and the Power Station, 350,000 sq. ft. of retail and restaurant space, a 15,000 sq. ft. library and further leisure space.
The development has been designed by two of the world's most famous architects; Frank Gehry and Foster + Partners.
This phase, 3 of 7, will form the epicentre of the entire project; two residential development zones located either side of the High Street.
Both architectural practices are collaborating on the High Street; Gehry Partners is designing the residential buildings to the east of the High Street, with Foster + Partners designing the residential buildings to the west.
Plans to develop the Battersea Power Station will be revealed today.
£750 million pounds will be spent on the facelift which will turn the derelict site into apartments, office space, shopping complex and viewing platforms.
- The three sites in London are among of 67 cultural areas in 41 countries
- They are deemed to be at risk from the forces of nature, and social, political, and economic change
- Internationally, the sites range from the Italian city of Venice to the little-known village of Pokfulam in Hong Kong
Battersea Power Station has made it onto a lost of world monuments with threatened heritage, along with two other sites in London.
Deptford Dockyard dates back to 1513 and was built on the orders of Henry VIII. It was the administrative headquarters of the Navy from the Tudor era and later became home to a burgeoning community of shipyard workers.
Sayes Court Garden was established by writer John Evelyn in south east London in 1653. The plot was once hailed as one of the capital's greatest gardens.
Battersea Power Station has been placed on a list of threatened heritage by the World Monuments Watch. The London landmark is one of 67 cultural sites around the world deemed to be at risk from the forces of nature, social, political, and economic change.
Battersea Power Station will be open to visitors for the last time for the annual Open House London weekend later this month.
The event over the weekend of 21st and 22nd September is free, and takes place between 11am and 4pm.
Rob Tincknell, chief executive of the Battersea Power Station Development Company, said:
"I wouldn’t be surprised if 10,000 people come over the weekend, if not more.”
It's only the second time the grade 2 listed building has been open to the public since its decommissioning in 1983. It's the last chance to see the boiler house and Turbine hall before the site's £8 billion redevelopment.
Work has officially begun on the redevelopment of Battersea Power Station after 30 years. David Cameron's response at the site this morning was "it's about time".
The project is set to cost £8 billion, invested from Malaysia.
Piers Hopkirk reports.