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.
A new website for the local community, which explains the council's plans for the regeneration of Old Kent Road, has been launched