The large-scale development at the corner of New Kent Road and Elephant Road has been 'topped out' as the tallest structure has reached its full height.
This week's 'topping out' ceremony was attended by the Mayor of Southwark, Cllr Dora Dixon-Fyle as well as leading figures from developers Delancey and builders Laing O'Rourke.
Due for completion next autumn, the scheme includes towers of 24, 18 and 16 storeys.
Formerly known as Tribeca Square and Elephant One, the scheme is now simply described by Delancey as the 'Elephant Road site'.
The development includes more than 370 homes for rent, as well as 270+ student studios, a cinema and supermarket.
The project is funded by a joint venture between Delancey's client fund DV4 and Europe's largest pension fund asset manager APG.
"Today's topping out ceremony marks an important milestone for both our development and the wider regeneration of Elephant & Castle," said Delancey CEO Jamie Ritblat.
"We are very excited to be involved in the on-going story of the area and are committed to delivering a vibrant new town centre, which build upon Elephant & Castle's culturally diverse foundations and central location."
Ray O'Rourke, chairman of Laing O'Rourke, said: "We are incredibly proud to be part of the regeneration of Elephant & Castle.
"Working with Delancey and Oakmayne from the early design stages we have used industry-leading offsite construction techniques that have allowed us to reach this milestone in record time.
"We look forward to taking the project to its final stages and progressing to handover in summer 2016 – providing Southwark residents and students with quality places to live."