Developers who received planning permission for a new office building on Waterloo Road are now seeking approval for a development of student accommodation instead.
The site, currently occupied by Imprima House, is immediately north of the new H10 London Waterloo hotel.
Developers ORM received planning permission in 2008 for a seven-storey office building designed by local architects HKR, but now say that despite marketing the scheme there has been no interest.
ORM has now teamed up with student housing provider Unite to work up revised proposals for 37 student apartments containing approximately 145 bedrooms.
The design is based on the consented office scheme but the building would be slightly less tall.