A £200m rail station facelift is set to improve train services and bring residential and business developments to Surrey, Network Rail has announced.
The company said the upgrade, at Guildford, would include a new station building, extended platforms for 12-carriage trains, and more parking.
It said the work would be funded by "commercial development providing much-needed housing" to the area.
Network Rail said a developer had been named as a preferred bidder.
Planning consent is still needed for the development, which is set to include residential apartments, retail, office and leisure facilities.
Commercial property director John Pike said: "People who use this station, on such a vital route, deserve improved facilities.
"In partnership with the private sector, we will deliver a new station building that will meet the needs of an increasing number of passengers.
"All this will be funded by an imaginative commercial development, providing much needed housing to this thriving area."
Work is planned to start by 2010 and be completed by 2012.
Guildford station is on the London-Portsmouth line and also serves stations including Gatwick Airport, Oxford and Reading.