Hundreds of new homes are to be built in Abbey Wood and south Thamesmead, in preparation for Crossrail's arrival.
Peabody housing association has promised to build 1,300 new dwellings, and create a "temporary high street" at Harrow Manor Way with shops, food and drink outlets.
There will also be affordable workspaces and facilities for local businesses, artists and community groups – following a £1m regeneration fund from the Mayor of London.
Peabody's plans are being developed with partners including Bexley Council and the Thames Innovation Centre.
Peabody Chief Executive Stephen Howlett said: "We want to create a thriving district close to the station which will provide commercial, social and leisure opportunities for residents in Abbey Wood and South Thamesmead.
"We hope the new mobile high street will provide a platform for local people, harnessing their talent and innovation.
"These are exciting times for everyone associated with Thamesmead which is fast becoming an even greater place to live, work and visit."
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Bexley's Cabinet Member for Regeneration and Growth Coun Linda Bailey added: "I am delighted that this funding has been secured.
"It represents another key milestone in reaching our aspirations for the area and I very much look forward to continuing our strong partnership with Peabody to maximise investment in homes and jobs."