Up to 1,000 new homes could be built on the western side of Newington Causeway under two separate plans revealed this week by housing association Peabody and the City of London Corporation.
In the meantime the site has become better known as the venue for Mercato Metropolitano.
This time architects Squire & Partners – whose other local work includes One Tower Bridge, One The Elephant and Southbank Place – have drawn up plans for 600 to 700 homes.
The scheme includes a 39-storey tower with cladding that takes its design inspiration from the adjacent railway lines.
Details of the affordable housing provision have not yet been made public but visitors to last week's consultation exhibition were told that Peabody expects to comply with Southwark's 35 per cent policy.
The latest scheme includes retention of the London School of Musical Theatre and Baptist chapel buildings on Borough Road, but the Institute of Optometry fronting Newington Causeway would be demolished.
The former IpsosMORI offices on Borough Road do not form part of the latest scheme.
If approved, the Peabody scheme could be completed by 2022 or 2023.
Separately from the Peabody exhibition, the City of London Corporation published a report on its website last week setting out the possibility of up to 300 new homes on land in Newington Causeway owned by the City's Bridge House Estates charity.
The development would be part of the Square Mile local authority's plan to build 3,000 homes on land it owns across Greater London by 2025.
The City is the freeholder of land on the other side of the railway viaduct from Peabody's Borough Triangle, including the Ministry of Sound and the former tax office at Lancaster House.
"Discussions have commenced with adjacent owners to assemble the site to maximise the development potential," wrote Nia Morgan, the City's head of corporate development management.
"The City has appointed agents to value its interest and more detailed feasibility studies will be undertaken during 2018.
"The site has potential to deliver up to 300 units over the next 5-10 years."
The report – for members of the City corporation's Housing Delivery Programme Working Group – has now been removed from public view.