A new supplementary planning document for Waterloo has been approved by Lambeth's cabinet as the council prepares for "huge" new developments in the area.
"It is a huge area for development, particularly in the next few years," said Lambeth council leader Cllr Lib Peck.
"There are plans around changing the configuration of Waterloo Station, there is the Elizabeth House planning application which has now gone through all the levels of government and has therefore been approved and we have an outstanding application for the Shell Centre which is due to come to planning later this month.
"We are looking therefore at a huge growth in the number of jobs and homes in the area.
"Part of the objective of re-looking at our Waterloo Supplementary Planning Document was to update it and to provide some specific proposals in relation to those developments."
London and Lambeth planning policies call for the creation of 15,000 jobs and around 1,900 new homes in Waterloo over the coming years.
Deputy leader Cllr Jackie Meldrum underlined the importance of tightening up the borough's planning policies to ensure that the benefits of regeneration in Waterloo are felt throughout Lambeth.
She said: "Waterloo is a great location and it can be reached from most parts of the borough – it's a great opportunity and it's well under way which is fantastic, but let's get our local plan policies right as well."
The council says that the final document has been tweaked after a consultation process last autumn.
Alterations since last autumn's draft document include a change in emphasis on the treatment of conservation areas and listed buildings, which are now described as assets rather than constraints on development.