New plans for the northern roundabout at Elephant & Castle are "everything we always wanted", says Southwark Council's regeneration boss.
Cllr Fiona Colley, cabinet member for regeneration, made a special announcement at Wednesday night's council assembly meeting following this week's visit to the Elephant & Castle by Mayor of London Boris Johnson.
Mr Johnson used his visit on Wednesday morning to unveil new concept images of a redesigned junction with increased public space.
"We will see an end to the roundabout, an end to the subways, a new peninsula, pedestrian crossings, safe cycling facilities and a new Northern line ticket hall with escalators," Cllr Colley told councillors, to applause from both sides of the chamber.
"It's incredible how far we've come on. I remember three years ago when I took over this post hearing from TfL that there was no way that the roundabout could come out and there was no way they would be putting a penny in.
"To be here today announcing that everything we always wanted is going to happen is a great delight to me and I'm sure to every member in this chamber."
The pedestrian underpasses are the subject of a Save Our Subways campaign led by local residents Richard and Lyla Reynolds.