The site will be developed into a town-centre destination, with retail, leisure and housing elements. Traffic will be rerouted away from the centre.
Foster and Partners has returned to the project as part of the design team, which also includes consultant JMP, management consultant Tibbalds TM2, spatial design adviser Space Syntax, environmental engineer Battle McCarthy, and retail consultant Roger Tyms and Partners.
The proposals represent the latest twist in the attempt to regenerate the area. Last year a deal between the council and developer Southwark Land Regeneration collapsed and the council went back to the drawing board.
The new document was produced with the council's development team. It will be fleshed out by April. Designs by Foster and Partners will be submitted to the council's executive this spring.