The plans would see the historic site opened to the public for the first time, delivering nearly 1,000 homes, a new 1.5 acre public park, and a landmark Women’s Building.
Around 60% of the scheme will be for affordable housing. Most of the social homes will be for families, with additional one-bedroom homes and a community garden dedicated to older residents.
Peabody and Islington Council are also proposing a Women’s Building to offer support services and provide a fitting legacy for the site.
The delivery of the scheme is in partnership with London Square.
Dick Mortimer, Peabody’s executive development director, said: “We’re excited to be able to present these new proposals to the local community, opening up the space to the public for the first time.
“We want to provide lots of much-needed family-sized social homes, but also put dedicated affordable homes for older people in the heart of the community next to the park.”