Architects Conran & Partners has drawn up plans for London and Quadrant to build 301 homes, a nursery, allotments and green spaces at the famous stadium.
The application for planning to the local council follows months of community consultation including public events in March, which saw L&Q amend its plans after feedback from local communities.
Mike Johnson, development director at L&Q said: “As a result of this ongoing consultation we have revised our plans to incorporate some of the feedback we have received and we are committed to continuing this work.
“The results from the most recent completed comments cards following the public exhibition and consultation in March show that 58% of respondents liked our proposals.”
Lee Davies, director at Conran & Partners said: “These exciting proposals will see this iconic heritage asset preserved and brought back to life for the wider community and future generations to appreciate and use.
“The plans provide much needed new homes, public spaces, pedestrian connections through the site, a riverside walk and variety of leisure and community uses. Our aim has been to create a vibrant new place to work and somewhere people will choose to live.”
L&Q had been accused by anti-development campaigners of landbanking, because the site has been closed for nearly three years since it purchased it for a reported £18m.
Meanwhile L&Q has turned down a bid of £9m from a local businessman to buy Walthamstow Stadium, and reintroduce greyhound racing at the famous London venue.