Croydon Council is reportedly in discussions with Network Rail over plans to redevelop East Croydon station with the potential for an over-station retail site.
Council chief executive Jo Negrini told a London Real Estate Forum panel that she would like to see as much commercial space as possible on the site, including the possibility of retail development over the top of the station.
She said talks with Network Rail had focused on a future upgrade at the borough's main transport interchange, and that commercial space could help fund improvements.
Ms Negrini said: "My gut reaction in terms of East Croydon is to get as much grade-A commercial [space] as we can.
"Our planning policy is very firmly about mixed-use and commercial in and around East Croydon. We've started broaching the subject with Network Rail, in terms of how we start working around that issue [of funding for rail improvements]. I think it's potentially a good option for us to pursue."
Work on several projects surrounding the station is finally coming to fruition after much of the land around the busy station lay empty for decades.
The first residential block in the Ruskin Square development opened late last year, while HM Revenue and Customs is in the process of fitting out its new tax hub in the first office building built as part of the same development.
Boxpark also opened adjacent to the station last October, while hundreds more flats are on the verge of completion as part of the Morello development in Cherry Orchard Road.
Proposals to build two two 25-storey towers providing a further 336, next to the Morello development, are also in the works with a planning application expected from developer Menta to the council next month.
An expansion of East Croydon station itself has been on the cards for several years, as Network Rail looks to remove the bottleneck the station causes on the Brighton Mainline.
A Government study, published in March, confirmed the existence of plans to redevelop East Croydon with two extra platforms between 2019 and 2024.
Council leader Tony Newman has previously called for the station to be redeveloped, and has described it as "not fit for purpose".
Any commercial deal could provide much-needed funding for the redevelopment, after a spokesman for Network Rail admitted in April that funds for the upgrade had not yet been earmarked.
He said: "We are working with stakeholders in the region to develop the plans so that should funding be received, we can crack straight on."
Several redevelopments of tube and rail stations in London have included a shopping mall above or as part of the station in an effort to fund the work.
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I don't see the point unless Southern get their act together. During the strikes last year, Boxpark businesses lost a lot of revenue from what I heard.