Housing secretary Robert Jenrick has dismissed an appeal for the 500-home Camberwell Union development at Burgess Business Park, SE5.
Peachtree Services and Dunnett Investments had proposed 499 homes in 13 blocks of between two and 12 storeys on the four-acre site.
Plans from architects HTA Design included 40,000 sq ft of commercial space and 35% affordable housing, with 119 social rented homes and 54 shared ownership homes.