The temporary installation should be ready in July and will provide sweeping views of Hyde Park, Mayfair and Marylebone.
The viewpoint will be built near Oxford Street to attract people back to the shopping street when the lockdown is relaxed.
The hill is one of several changes proposed by Westminster council and part of the £150 million Oxford Street District framework initiative.
The 25-metre-tall structure designed by MVRDV will provide “rare views” of the Marble Arch as well as Hyde Park.
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