Plans for a new development on the site of St George's Mansions and the Imbibe pub in Blackfriars Road have been revealed by Linden Homes.
"This site is located within the cultural hub of South Bank and Bankside and has fantastic transport connections being close to the new Blackfriars Station," said Ben Johnson, planning manager at Linden Homes.
"The site is in need of regeneration and we believe there is an opportunity to do something special here.
"We have spent the last few months talking to local people and are keen to incorporate their ideas. Unusually for developers, we are presenting two schemes, to give people more choice in the consultation process.
"Our preferred scheme is for a tall building which brings more benefits for the local community, with more affordable housing, more public space and additional community and cultural facilities.
"We hope local residents will come to the exhibition and respond to our consultation."
The demolition of the existing buildings is likely to prove controversial with conservation groups and residents' associations.
An earlier plan to demolish the Imbibe building attracted opposition from the Georgian Group which objected to the loss of one of the few remaining buildings from the time that Blackfriars Road was first laid out.