The scheme, named Lewisham Gateway, is seeing the removal of a roundabout named Loampit Vale from the centre of the south east-London town.
This is because Loampit Vale effectively cuts off the town centre from the DLR, the train station and many nearby residential communities.
It is being replaced with a new development that will reconnect these areas with Lewisham’s town centre.
In addition to the new green space it will feature shop-lined links as well as new homes, cafes and restaurants.
The creation of Confluence Place involves the opening up of the rivers Quaggy and Ravensbourne.
The new buildings and the Confluence Place have been designed by PRP Architects.
Urban regeneration specialist Muse Developments is delivering Lewisham Gateway in partnership with the Mayor of London Boris Johnson, the London Borough of Lewisham, Transport for London (TfL) and London Bus Services.