EDAW, DSDHA, Lab Architecture Studio and Lifschutz Davidson Sandilands have been selected to develop concept designs for the Waterloo City Square site, near London's South Bank.
The intention is to change the site from a series of complex and confusing subways circling the BFI IMAX into a unified public space.
The new square is expected to simplify pedestrian routes and ease interchanges at Waterloo.
South Bank Employers' Group is responsible for delivering the project, which is being funded by the London Development Agency and P&O Estates.
There will be a public exhibition this winter at which the design teams will present their concepts and take questions.