KPF has submitted plans for two linked towers in Nine Elms, one of central London’s biggest development sites.

The mixed-use scheme, to be called One Nine Elms, will replace Market Towers, a 1970s office tower at New Covent Garden Market.

It will contain more than 400 homes, a hotel and a new privately managed square with shops, restaurants and cafés.

The linked towers will reach 43 and 58 storeys.

The scheme, for a joint venture by CIT and Green Properties, is surrounded by a number of major new developments including Kieran Timberlake’s US Embassy, which is due to open in 2017, and Broadway Malyan’s Vauxhall Tower, which is under construction. And Eastbury House, an old government building on Albert Embankment, is to be replaced with a scheme designed by Rogers Stirk Harbour.

Wandsworth Council leader Ravi Govindia said: “Nine Elms is London’s leading development hotspot. The transformation is now underway and a new residential and business district will soon take shape.

“More than 20 sites are now gearing up for redevelopment and work has begun on some of the most exciting schemes. In all, 16,000 homes will be built here alongside enough new business and cultural space to support 25,000 new jobs.”

The One Nine Elms application is now being assessed by Wandsorth’s planning department.