The project, for Baladine Properties, which is due to go before Tower Hamlet's planning committee in the next few weeks, will create 155 homes on the site next to Poplar Dock Marina.
Providing a mix of social and private housing, the development will feature two blocks - the tallest an 18-storey tower, the smaller a six-storey building.
Unusually for the area, which is close to Canary Wharf, on the north bank of the Thames, the scheme will boast a number of five-bedroom apartments, as well as a shared entrance for the public and private accommodation.
Project architect Joel Carter said: 'By having roof gardens on both the taller and smaller blocks we have replaced the public amenity in the area.
'At the moment there is a car park and hotdog stall on the site, which has been a blot on the area since the war.'