Linden Homes has released new images of its revised proposals to redevelop the site of St George's Mansions and the Imbibe bar in Blackfriars Road.
Last year the company published images of two options for the redevelopment of the site – including a 27-storey tower – which prompted the formation of the Blackfriars Action for Responsible Development campaign group.
The new scheme includes 94 homes, as well as new premises for the Blackriars Cafe and dry cleaners at ground level.
The developers have also withdrawn controversial plans to take over the community garden in Surrey Row.
"Our aspiration is to create a quality development that enhances the area, creating new homes and jobs," said Steve Bangs, managing director of Linden Homes South East.
"The site is in need of regeneration and our plans will bring benefits for the local community, including affordable housing and an enhanced public realm with extensive landscaping improvements along Blackfriars Road, Surrey Row and Pocock Street.
"We have spent the last year meeting and listening to the local community and the proposals have been substantially revised following much consultation with local people and organisations."