It's been called by Mayor Boris Johnson, "the last and greatest single prospect for regeneration in central London".
In one of the most ambitious plans for the capital, work has already begun on a 15 year project to transform 195 hectares of space stretching along the South Bank from Battersea to Vauxhall in to a cluster of new apartments, business sites and leisure areas, a £15bn regeneration programme providing 18,000 new homes and 25,000 new jobs.
And at its heart, the redevelopment of the industrial cathedral that is Battersea Power Station, and the building of a new £650m US Embassy in Nine Elms.
IBTimes UK spoke with the councillors, developers and agencies involved to find out their vision for the area, and how locals and Londoners, will benefit.
N.B. The Nine Elms redevelopment project now promises 18,000 new homes, not 16,000. The number of separate Nine Elms redevelopment projects has increased from 20 to 28.