The huge Vauxhall Square redevelopment will include two 50-storey residential towers of 513 flats.
The plans for the 3-acre site in the Nine Elms area of London also include building 416 student rooms, a large hotel and four screen cinema with surrounding shopping and cafes.
Included within the proposal is a giant walkway, which would allow pedestrians to cross the Vauxhall gyratory. The public realm area will be as large as the City of London’s Paternoster Square.
Subject to planning consent, CLS said it aims to start on site in 2014, with phases being completed from 2017 onwards.
Richard Tice, chief executive Officer of CLS Holdings plc, said: “This substantial mixed-use scheme is a key element to the Vauxhall Nine Elms regeneration plans.
“It will create a new vibrant heart for Vauxhall and over 1,000 additional full-time jobs across a broad range of skills, both during and after construction.
“The investment of over £400m will bring substantial benefits to a wide range of stakeholders and is not dependent on the Northern Line extension.”