The Wimpey team was named preferred bidder for the Project Vauxhall estate regeneration scheme by a steering group of residents and school governors on Lambeth's Ethelred and China Walk estates.
A consortium led by developer St George was named reserve bidder, ahead of a third team led by Beazer.
Lambeth council ran the competition on behalf of the Ethelred Estate and China Walk Estate tenants' associations, which initiated the project in 1996.
Project Vauxhall aims to demolish and redevelop the 990-unit Ethelred Estate, including Kerin Point, a residential tower block .
The scheme will also involve the refurbishment of the 450-unit China Walk Estate and the replacement of the Ethelred Nursery School and the Lilian Baylis secondary school.
Wimpey's team includes London-based PRP Architects, Leeds architect Carey Jones, Glasgow architect UNICK, EDAW landscape design and quantity surveyor MDA.
