Westfield has submitted plans to the London Borough of Hammersmith and Fulham for a £1 billion regeneration project in the area around its White City shopping centre.
If the master plans are approved, more than 1,600 homes could be built across a nine hectare site to the north of the existing Westfield development.
Construction is not expected to start before 2014.
Plans include a new pedestrian quarter, community facilities, shops and a new department store which will straddle Ariel Way.
Westfield has consulted heavily with the local community on the plans which have been shown off at a public exhibition.
West London Business chief executive Frank Wingate said: “As the representative body for the business community in this part of London, we fully support Westfield’s latest proposals within the White City Opportunity Area.
“The plans will deliver 2,500 much-needed new jobs and further investment to West London, bringing more customers to other businesses in Hammersmith and Fulham.”
Asset management director of development Duncan Bower said: “We have already received a considerable amount of support for the plans and the submission is an important step in bringing more jobs, homes and facilities to the local community. We are keen to progress this project and make these jobs a reality for as many local people as we can.”
If the planning application is approved, Westfield will begin the detailed design of the development next year.