Tower Hamlets Council granted detailed planning for the 57-storey building accommodating 468 flats ranging from studios to large three bedroom family units.
The cylindrical skyscraper will be built at a prominent waterfront location on the edge of South Dock, directly to the east of the existing Canary Wharf estate.
Designed by architects Herzog & de Meuron the building will be the lead project in the wider development of a 4.9m sq ft mixed use, waterside community providing over 3,200 new homes, nearly 2m sq ft of offices and a further 335,000 sq ft of shops, restaurants, school and landscaped parks and walkways.
Sir George Iacobescu, chairman of Canary Wharf Group, said: “This decision is a major step in the progression of the new phase, a development that will broaden and extend the Canary Wharf estate, adding to its vibrancy and continually expanding cultural, community and commercial offer.”
The permission comes just days after the launch of Canary Wharf Group’s first ever homes, at 10 Park Drive, adjacent to the Herzog & de Meuron tower.
A Stanton Williams designed building, 10 Park Drive is a mid-rise 13 storey building adjoining a 42 storey tower, together containing 74 studios, 115 one-bedroom apartments, 141 two-bedroom apartments and 15 three-bedroom apartments.