The plans for Zone G, located off Redriff Road and across a portion of the Surrey Quays Leisure Park, is designed by architect Maccreanor Lavington.
There will be five residential buildings delivering a 42% affordable provision.
The new park will be located across a portion of Surrey Quays Leisure Park and part of the car park of the former Printworks building.
Architects Townshend designed the park which also includes a café pavilion and an adventure play space.
The pavilion building was designed by Peckham-based design studio Feix & Merlin, and the play space has been conceived by internationally renowned Dutch studio Carve.
Phil Tait, Director of Development for Canada Water at British Land said: “The vision for Canada Water is to deliver a new town centre, connected with the local community; a place where everyone living, working, and studying in the local area truly belongs and can access the opportunities that it will bring, sharing in its success.
“Zone G and the park will bring new green space for all to enjoy, along with homes, shops, cafés and public amenities that will all add to what Canada Water has to offer.”