Developer Barratt London submitted its latest plans to Lewisham Council to build at the former Bell Green gas works site at the end of last year.
The two historic gasholders on the land were demolished in 2019, and the area is now earmarked for housing.
Under current plans, 262 new homes would be created in six blocks, which would also provide space for shops and offices and 39 full-time jobs.
The tallest tower will be 14 storeys high, with the smallest two blocks having six floors each.
A previous planning application for the site – which would have seen three blocks up to 15 storeys high built – was withdrawn over concerns about affordable housing and the impact on the nearby grade II listed Livesey Memorial Hall.
The latest plans promise that more than a quarter of new homes will be affordable, and that a new public space will be created between the development and Livesey Hall.
Despite this, planning officers have acknowledged that one of the six storey tower blocks will create a “dominant overwhelming presence” for the listed building.
However, they said that the benefits of the scheme are considered to “substantially outweigh any harm identified”.
Only eight disabled off-street parking bays will be provided as part of the development, which is designed to be car-free.
A new garden would also be created in front of three of the blocks facing onto Alan Pegg Place.
In total, 68 objections to the plans have been received by Lewisham Council, with just two respondents expressing support for the development.
However, planning officers have now recommended that the authority approves the application.
Their report says: “The proposals are wholly sustainable development in accordance with the national planning policy framework and will make an important contribution to the borough, in respect of housing supply and importantly retaining and increasing the employment capacity at the site.”
The borough’s planning committee is due to meet this evening (October 22) to decide on the plans.