Alongside the homes, the proposals include more than 5,000 square metres of leisure space as well as convenience retail, restaurants, offices, car parks and public open space.
The proposed buildings would rise up up to 15 storeys high.
The Bournemouth Development Company – a partnership between Bournemouth Council and Morgan Sindall Investments – is behind the outline application.
It plans to transform the two-hectare site, which has been used as a car park since the demolition of the concert hall in 2006.
Bournemouth Council leader John Beesley said: "This would be the largest project of its kind ever undertaken in Bournemouth. The scheme will be transformational, combining new homes, leisure and social infrastructure in a location where people will want to live, work and socialise."