Original proposals for Paddington Place have been withdrawn due to concerns over the height and impact of a planned skyscraper.
Following discussions between the Leader and Deputy Leader of Westminster City Council and Irvine Sellar, Great Western Developments (GWD) has now decided to revise its original plans.
Originally, the scheme was supported by Network Rail, Transport for London, St Mary's Hospital, NHS (London) and the Greater London Authority (GLA).
However, it is understood local people were concerned about the tower element of the scheme.
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GWD's decision means that the application will now not be considered at city council meeting on 08 March.
The development aims to create a new 'gateway' for the Network Rail station and St Mary's hospital. In addition, the plans also allow for further improvements to the railway station as well as developing a new Bakerloo tube station.
Offices, restaurants, new public piazzas and residential content are also included in the plans.
Council Leader Philippa Roe said: "I am delighted that we have been able to work together with the developer, this is a very positive step and will allow time for us all to bring forward a development that enjoys broader community support and that we jointly believe will deliver enormous benefits to Westminster and London.
"We remain committed to ensuring that all the benefits of the original scheme are retained in the revised plans."
Sellar Property Group/GWD added: "We have always believed that successful development is a collaborative process, involving the developer, council and community and look forward to delivering a development in Paddington of which Westminster and its residents can be proud."
(LM/MH)
