Cllr Richard Thomas last week met traders at Bermondsey Antique Market to hear their concerns about the Bermondsey Square development.
Southwark's executive member for regeneration Cllr Richard Thomas met members of the newly re-established Bermondsey Antique Market Traders Association to discuss progress on the Bermondsey Square regeneration programme.
"The regeneration here will result in a fantastic square, and create a vibrant centre for residents and visitors," says Cllr Thomas. "It really will be a superb transformation."
"Redevelopment is inevitably disruptive to local people, but the council is doing all it can to make the transition as smooth as possible. Talking to traders, it is very encouraging to hear that people are very excited and enthusiastic about the new Bermondsey Square when all the work is finished.
"What we need to do is support businesses and local people throughout this transitional period so that traders and residents alike can reap the benefits of what will be a fantastic place to live and work."
The scheme – which includes housing, restaurants, office space, a community cinema and a hotel – is expected to be completed by 2008.
The antiques market is continuing to operate every Friday from a small portion of the Bermondsey Square site during the redevelopment.