The scheme is being developed by a partnership between housing group Moda Living and real estate investment firm LaSalle Investment Management.
It is proposed for the 3.6-hectare Sackville Trading Estate and Goods Yard at Sackville Road, Hove, close to the town's railway station.
Alongside the homes, the development would include a 265-unit care home, 3,574 square metres of office accommodation, 684 square metres of retail space and a 950 square metre "health and wellbeing centre". The development would rise up to 13 storeys.
According to a design and access statement submitted alongside a planning application to Brighton & Hove City Council, the site is currently "vacant or underused in anticipation of redevelopment".
It says that local planning policy "envisages an employment-led approach to this area as a whole, as well as encouraging residential redevelopment".
However, it says that regeneration of the industrial estate "represents an exceptional opportunity to create a series of buildings of outstanding design quality which contribute to the continuing transformation of this important part of Hove and the Hove Station regeneration initiative".
According to a statement from the developers, a previous application across part of the site for a retail-led scheme comprising more than 13,000 square metres of shopping floorspace, 562 parking spaces and residential uses was granted approval in March 2010, "but a drop in the market for retail space made the scheme unviable".
The application can be found on the Brighton & Hove Council website by searching for application ref: BH2018/03697.
Last month, plans for a 499-home high-density mixed-use redevelopment of a business park in Camberwell, south London, were refused against a recommendation for approval from planners at Southwark Council.
In October, the same council approved plans for a 1,150-home development up to 48 storeys high, despite officers recognising that the proposal would be contrary to local policy because part of the site is identified as a strategic industrial location.