Sweeping improvements to Colliers Wood town centre are now in motion after a £250,000 windfall was approved by cabinet.
The money, generated through a levy paid by developers to Merton Council, will go towards the Connecting Colliers Wood project - a partnership between Transport for London (TfL), the Mayor of London and the council.
Residents can expect improved pedestrian access, cycle routes, cycle parking facilities and better links to Wandle Park.
Lighting and pavement improvements around Donald Hope Library in the high street have also been proposed.
Councillor Nick Draper, Colliers Wood ward member, said: "There's been two informal consultations. The project has had an amazingly good response."
Formal consultation on technical works must take place before plans go through, but the money for the project has been secured.
Full plans are expected to be completed by March 2015, with works taking place alongside the development of the Brown & Root tower, due to start in April.
Allocation of funds was approved at a cabinet meeting on Monday.
The project has already secured a £282,000 investment from TfL and a £1.599 million grant from the Mayor of London's Regeneration fund.
The council has also agreed to put aside an extra £301,000 to support the project.