Five buildings ranging from 7 to 29 storeys are proposed for the 0.8 hectare Fairfield Homes site next to the recently opened Fairfield Halls cultural venue.
Architect MICA designed four of the buildings, comprising 343 homes, while Common Ground Architecture designed a 78-home block.
The latest planning application builds on a 2017 planning consent, nearly doubling the number of homes from 218 and increasing the affordable housing from 18% to 20%.
Once planning consent is gained, the developer aims to start work early next year.
Value from the development of the Fairfield Homes site will be used to cross-fund Vinci’s £40m refurbishment of Fairfield Halls, which overran by £11m.
Colm Lacey, chief executive of Brick By Brick, said: “We have carried out extensive demolition and enabling works, on the site and we look forward to continuing this most exciting and vitally important project.
“This development has allowed us to fund the spectacular transformation of Fairfield Halls, which opened this month.
“Together, the schemes are fundamental to Croydon’s ongoing renaissance, adding to its fast-growing appeal as a place where people want to live, work and visit.”
The Fairfield Homes site is bound to the north by Croydon College, the College Tower site and Mondial House, both of which have planning consents for buildings of heights above 35 storeys and to the east is the mainline London to Brighton railway line.