Crossrail needs a turnback site in west London to accommodate trains that will make shorter journeys across central London. The council wants it to be built on a 27ha site to drive area renewal.
Its proposals envisage more than 2,500 homes, along with retail, social and community facilities on the site, which is occupied by the Kensal gasworks, a Sainsbury's store and a former Eurostar depot.
However, the council says the plans depend on the transport links offered by Crossrail. It argues that the regeneration benefits make it a better option than Paddington, the other location under review by Crossrail.
"Not only would our proposals bring new homes and generate jobs but the station itself would make the whole of the capital easy to reach for residents, who are poorly served by bus and train," said council leader Merrick Cockell. London mayor Boris Johnson will visit the area in the near future to view the potential site.
A Crossrail spokeswoman confirmed that it is investigating the feasibility of a turnback site and an additional station at Kensal Green, which if built would replace plans for a turnback facility at Westbourne Park.
A Transport and Works Act order would be needed to obtain powers and funds required in addition to the Crossrail budget if the plans are backed.