Housing association Peabody is planning a major development on Newington Causeway and Borough Road including hundreds of new homes and a new headquarters building for the landlord.
Now details of Peabody's intentions for the site have been revealed in documents lodged with Southwark Council before Christmas.
The documents outline the trust's plans to build around 550 new homes.
Peabody wants to build two tall buildings – of 38 and 32 storeys – close to the railway line.
The rest of the site will include a range of residential buildings ranging from 6 to 15 storeys.
Most of the existing buildings on the triangle site – apart from the Ipsos Mori building on Borough Road and the adjacent chapel – would be demolished under the plans, including the Institute of Optometry building and the London School of Musical Theatre.
New accommodation for the Institute of Optometry would provided in the redevelopment scheme.
For the time being, Peabody has invited local gallery Hotel Elephant to use some part of the space pending the redevelopment.