Work has begun on site at 44 Hopton Street where the controversial block of flats is planned although the protest group is still pursuing ways of preventing the development.
Computer generated image of the planned tower
The original developer successfully appealed to Deputy Prime Minister John Prescott against Southwark Council's rejection of the plan. An appeal by the objectors group BROAD (Bankside Residents for Appropriate Development) to the European Court of Human Rights was rejected last month.
The 20-storey apartment tower scheme has now been taken over from London Town by Meyer Bergman. However, it is understood that the plan for a retail space on the ground floor may have to be revised due to a boundary problem on the eastern side with Tate Modern.
The total development cost is estimated at £40 million with completion scheduled for 2008.
For the latest local news and events direct to your inbox every Monday, you need our weekly email newsletter SE1 Direct.
7,000+ locals read it every week. Can you afford to miss out?
Read the latest issue before signing up