The scheme will provide 188 new homes together with a basement car park and a newly formed pedestrian route through the site.
The 0.64 hectare site currently comprises a decommissioned children’s hospital and associated accommodation for nurses.
Plans would involve the demolition of the existing hospital buildings while retaining the facade of the original hospital building on Hackney Road, which was built in 1904.
Mark Mitchener, Managing Director, Rydon Construction said: “The team has received great deal of interest and enthusiasm for our proposals to redevelop this landmark Hackney Road site into new, sustainable and affordable homes.
“We are excited to be at the stage of submitting our planning application and are looking forward to the opportunity of bringing this redevelopment to fruition.”
If planning permission is granted work is expected to start this summer and would be completed in phases by summer 2017.