Proposals for the Napier and New Plymouth House site in Rainham include 126 affordable homes, with a number earmarked for families, and a further 71 homes for private sale.
The site is one of 12 included in the regeneration programme, which will see the Wates council joint venture deliver around 3,000 homes in the borough over the next 12 to 15 years.
The project will seek to increase the amount of council rented accommodation and double the amount of affordable housing, while the right to return is guaranteed to all residents.
Havering Council’s planning committee will now assess the application and a decision is expected later this year.
Councillor Damian White, Leader of Havering Council, said: “After months in the planning, it is exciting to see us entering the next phase in our ambitious regeneration programme.
“This project will provide much-needed quality, affordable homes for local people in our special borough. It will leave behind a legacy of skills, training, jobs and aspiration which goes far beyond just bricks and mortar.”