The developer with partner Frogmore Estates was previously knocked back by Camden Council over its failure to provide affordable homes on the site.
The latest proposal to convert the iconic tower from mixed-use to 82 apartments will now incorporate affordable homes on the site of a nearby pub, which is being incorporated into the scheme.
Sixteen affordable homes will be accommodated within a new 11-storey building.
The huge refurbishment will not see any part of the iconic grade-II listed tower demolished.
The building will be upgraded to cut energy consumption with new high performance glazing, a central combined heat and power system and sedum roof.
The planning committee is due to give its verdict on the scheme in July, with completion due in 2016.