The council has started the hunt for an architect to design the buildings, which are expected to cost £25m to build.
The two towers, one 20 storeys and the other 14 storeys high, will be located on a prominent site opposite Shoreditch Park to give views across the city and create interest in the skyline.
The towers are a key element of the Colville Estate regeneration programme, which aims to create a new neighbourhood of around 925 new homes to replace the 1950’s and 1960’s block that are unpopular and nearing the end of their useful lives.
Architect Karakusevic Carson drew up the master plan for the estate regeneration plan.