Developers Native Land and architects Lifschutz Davidson Sandilands have held a preliminary public exhibition on the redevelopment of the former London Fire Brigade headquarters on Albert Embankment.
The new development has been given the name Florian Place, after St Florian, the patron saint of firefighters.
Whilst the listed building closest to the river and the drill tower will be retained, there is also a large ancillary building between Lambeth High Street and the railway line which will be demolished. A third plot to the east of the railway also forms part of the scheme.
No plans for the "innovative landmark regeneration scheme" have yet been revealed, but it is likely that the riverfront building will be converted into flats with a mixed-use development including office space to the rear.
Lambeth Fire Station will continue to be based on the site.
"The refurbished Lambeth Fire Station will continue to be of strategic importance to central London," says London fire commissioner Ron Dobson.
"I am also delighted that the building will continue to be the home of the memorials which list the names of firefighters who have died serving the community over many years."
One of the display panels at the exhibition noted that a precedent for tall buildings in the Albert Embankment and Vauxhall area has already been set by the granting of planning permissions for other schemes.
Last year permission was granted for a Foster & Partners scheme of three towers up to 27 storeys high on the site of Hampton House.