An industrial estate and milk delivery depot is set to be converted into 294 homes, generating nearly £8m for Wandsworth Council.
The development would transform Sleaford Street Industrial Estate and Dairy Crest Milk Distribution, Sleaford Street, Battersea, into tower blocks up to 18 storeys high.
A planning application was submitted to Wandsworth Council in July last year, with councillors set to make a decision on Monday.
The development is the latest proposed site to undergo transformation under the Nine Elms on the South Bank regeneration Project.
If it is granted planning approval the project will generate £7,656,287 for the council in community infrastructure payments, which will be used to benefit the area.
Owners, Sleaford Street Management Company and Dairy Crest, want to create new homes including 16 per cent affordable units.
There will also be space for retail units, offices and restaurants, as well as a new pedestrian walkway, cycle path and public square.
A youth hall will be built to support the community and a new play area constructed to replace an existing one on the site.
The project, designed by Stephen Davy Peter Smith Architects, would be delivered in three phases starting with the demolition of the Dairy Crest site.
Phase 2 would see the construction of tower blocks, landscaping and the final stage includes the creation of the ball court.
A planning application document said: "The development has been designed so that it has a role in the wider community by providing the ball court, community space and retail/office uses.
"The site has links through it to the surrounding area and is not completely inward facing, with a building frontage onto Thessaly Road."
More than 730 people were consulted on the proposals, with several objections raised by amenity groups and businesses.
Neighbouring New Covent Garden Market has raised concerns over noise levels, while existing businesses in the estate fear they will be priced out of the area.
The estate was originally built to provide affordable space for small and start up businesses.
Meal Maker, who have been based in the site since 2000, in an objection letter said: "If the re-development of Sleaford Industrial Estate does happen, it will force virtually all of these small companies on the estate out of business, as I am sure they will not be able to afford the cost of relocating and starting afresh and it will obviously make a significant number of people unemployed."
The Battersea Society have also objected to the high buildings and the focus on residential buildings rather than existing businesses.
A total of 177 staff will be moved from the building, including about 50 from Dairy Crest who will be moved to other depot's in London.
A final decision will be made during a planning meeting at Wandsworth Town Hall on Monday.
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