The existing 15-storey Wayland House building on the Stockwell Park Estate will be demolished to make way for a part 15-storey and 20-storey apartment block of 159 flats, with around half for private sale.
The plans form part of the Network Housing Group’s £130m investment in Stockwell Park, which is run by Community Trust Housing.
Architect PRP has designed a white stone effect composite with gold and dark bronze metal cladding to create a new landmark block on the housing estate. Both structures will be crowned with a communal roof garden.
But many residents have campaigned against the demolition plan which was finally given the go-ahead last last year.
Mace is project managing the job, which also attracted bids from Ardmore, Mansell and Galliford Try.
A source close to the project revealed that Wates has scooped the high rise project, which could start enabling works as early as next month for completion in 2015.
The mechanical and electrical engineers on Wayland House are Calford Seaden.