Forty-six new homes could be built on part of Lewisham College and Southwark College's Waterloo Campus in a bid to fund new education facilities.
The proposals for the site were outlined at a public consultation event, held ahead of the submission of a planning application.
The merged college - known as LeSoCo - said it was keen to invest in the Waterloo Campus, on The Cut, and wanted to redevelop the site with new educational floorspace housed in “predominantly five- and six-storey buildings”.
But it said that to help fund the development it was keen to release land to the south and west of the campus - the Ufford Street side - for residential development.
It said a planning application for the scheme was likely to be submitted later in the year.
"We've already surpassed one degree of global warming," said Kristen Buida, manager of the London Climate Change Partnership.