Developer partnership Westfield/Hammerson’s regeneration project includes proposals for 300 shops, 400-600 homes, new restaurants, a multi-screen cinema and a bowling alley.
A section 106 agreement was signed in January and will see £29 million invested in Croydon’s transport networks.
Croydon Council approved the scheme in November.
Following approval by the council's cabinet last night, it will submit a compulsory purchase order (CPO) to communities secretary Eric Pickles for confirmation later this month.
According to a council report, the CPO would include a number of parcels of land, in a variety of town centre uses, "but primarily consisting of the Whitgift shopping centre, the former Allders department store, the Marks and Spencer store and other retail units on North End and land to the rear and adjacent to these units, a number of largely vacant office units … land to the rear of properties on the northern side of George Street, Dingwall Avenue, the office blocks fronting Dingwall Avenue, namely Focus House and London House, the two multi storey car parks adjacent to the Whitgift Centre and the car park fronting onto Wellesley Road".
Mike Fisher, leader of Croydon Council said: "We know our residents and businesses are as eager as we are for this long-anticipated transformation of our town centre to get underway.
"As a council, one of the most important things we can do to ensure it progresses quickly is to help assemble the land. Tonight’s decision to make a CPO brings Croydon another step closer to regeneration and marks another milestone on this exciting journey."