The first phase ranges from three storey houses to a 16-storey tower with a bias towards larger family homes. All the homes will include a private balcony, terrace or private garden.

Pascal Mittermaier, Lend Lease’s project director for Elephant & Castle, said: “The homes that replace the Heygate Estate will be some of the most sustainable and energy efficient places to live in Britain and we look forward to working in partnership with Southwark Council to deliver them.”

The detailed application for MP1 comes after Lend Lease received outline planning consent from Southwark Council earlier this year. A total of 2,500 new homes will be built on the site during the next 15 years.

A planning decision for MP1 is expected in early 2014, with construction of the new homes starting in the Autumn of next year.

Designed to exceed Level 4 of the Code for Sustainable Homes, the homes will showcase the latest sustainable building practices and innovations, including cross-laminated timber, which is designed to improve the energy efficiency of the buildings.

Like all other planned phases in the development, the homes will feature water saving features, a strong focus on urban nature such as green roofs and green walls, and the infrastructure to support sustainable transport.

Construction of the first phase will also create job and training opportunities for local people, including 20 apprenticeships, 38 short courses and at least 44 full-time jobs.

Architects for MP1 are Maccreanor Lavington Architects and public realm designers are Gillespies.

This latest milestone builds on the progress that has already been made at Elephant & Castle this year, including the successful launches of the first two residential developments. One The Elephant, a landmark, 37-storey tower comprising 284 new homes and Trafalgar Place – a 235 home development – have both now started on site.

In London, Lend Lease is also delivering The International Quarter – the new £2 billion commercial district at Stratford City in the Olympic Park which will include 320 new homes. And last month Lend Lease won planning approval to build more than 200 new homes at two sites in Battersea, South London.