Tusk force: Southwark council was last night expected to approve this £1bn regeneration masterplan for the Elephant & Castle area of south London.

Groups involved in drawing up the masterplan included architects Foster & Partners and Gehl and planning consultant Tibbalds.

The council says the new scheme, which will take 10 years to complete, will provide 5300 homes to replace the current 1212-home Heygate council estate. Tenants will start moving out next year to new homes built elsewhere in the borough. There will also be 75,000 m2 of retail space and a market square.

The council will go through the European Union's Official Journal procurement process in March to get developer and housing association partners. The move comes two years after an original scheme developed with Southwark Land Regeneration fell apart when the council and developers could not get the scheme to stack up.