Southwark Council is to go ahead with plans to introduce a controlled parking zone centred on Thorburn Square in South Bermondsey after the proposal narrowly won the support of local residents in a public consultation.
The new CPZ will cover the area west of St James's Road, south of the railway line, north of Rolls Road and east of Harris Academy Bermondsey.
Parking controls will apply on weekdays between 8.30am and 6.30pm.
275 people responded to the council's consultation last autumn, with 53 per cent answering "yes" to the question "Do you want a parking zone?".
The council says it will cost nearly £100,000 to introduce the new parking zone, with the funding coming from section 106 payments made by developers in the area.
A similar proposal for a new CPZ in South Bermondsey was made by the council in 2011 but was not ultimately implemented.