Transport for London has revealed that it plans to spend £22 million on changes to the road layout around the BFI IMAX cinema at Waterloo.
Now a few crucial new details have appeared in TfL's surface transport plan for 2015/16.
According to the plan, the project has an estimated final cost of £22 million and is due for completion by May 2021.
"Unprecedented levels of investment by developers and Network Rail will transform the area, delivering new homes, offices and better public spaces," says the TfL document.
"We are leading a regeneration scheme to support this growth, focusing on improvements to public spaces, upgraded services for cyclists, and better interchange facilities."
As at Elephant & Castle, one side of the Waterloo roundabout will be turned into an expanded pedestrian space.
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