The Old Kent Road has "huge potential for meeting London's residential and employment needs," according to Mayor of London Boris Johnson.
Conservative London Assembly member Gareth Bacon recently tabled a question to the Mayor: "What would be the main benefits to local residents of the new opportunity area that is proposed for Old Kent Road in the London Plan?"
Mr Johnson's reply has now been published: "The designation of the opportunity area will allow the Mayor, TfL and Southwark Council to take a strategic approach to the future planning of the area which has huge potential for meeting London's residential and employment needs.
"Initial work on an opportunity area planning framework for the area is likely to commence this year when more detail can be provided on the scope of the project."
The Mayor's draft alterations to the London plan estimate that 2,500 new homes could be built in the Old Kent Road area.