The London Borough of Tower Hamlets will now consider plans put together in partnership with FirethornTrust.
The proposals include a 400 bedroom hotel and 279 serviced apartments which will create 300 construction jobs during the building phase.
Jonathan Manns, Head of Planning & Development at Rockwell said: “We are extremely proud of our proposals, which will maximise employment and training opportunities whilst significantly enhancing South Quay and the surrounding area.
“Rockwell is committed to the redevelopment of Quay House and we are excited to transform the currently vacant building into a landmark mixed-use development.
“This application follows extensive engagement with the local community and, drawing on inspiration from New York’s “highline”, the proposed public realm responds directly to the feedback we received from our consultation events.”