The Government Office for London (GOL) has announced that the outline planning permission granted to the proposals, by Demetri Porphyrios and Allies and Morrison, will not be called in.
The decision means the entire project can go ahead without having to face a public inquiry.
This represents an extraordinary victory for the developer and his architectural team, who have now steered the project through the entire planning system without once being turned down.
It is also extremely good news for London's architectural community. It is understood that, when completed, it will have included over 60 commissions and schemes.
A five-page letter, seen by the AJ, which was sent to interested parties by the GOL yesterday, outlines the decision not to call it in.
'Having carefully considered all the matters set out, together with all the representations received by the Government Office for London or ministers and those sent to Camden Council, and having regard to the policy on call in, ministers have concluded that intervention would not be justified.
'Ministers are satisfied that there is insufficient conflict with national planning policies on the above matters or any other sufficient reason to warrant calling in the application,' it says.
However, there are those who will be disappointed by the decision. Some conservationists have been calling for the huge scheme to be shelved because it involved the demolition of two listed buildings.