Plans for the 18ha site, submitted to Waveney District Council, also include a new school and a retail development. Cost of the development has been estimated at £150m.
The site was previously occupied by the Brooke Marine boat yard and the Jeld Wen joinery plant. Disused industrial buildings on Brooke Peninsula will be demolished to make way for the scheme.
Many of the new homes would be built on 3m stilts to protect them from flooding.
Waveney District Council leader Colin Law also welcomed the plans, saying: “This proposal is a wonderful shot in the arm for Lowestoft and promises much needed affordable housing, jobs and a genuine attraction for visitors.”
Subject to planning permission, Kent-based Cardy hopes to start construction by the end of the year and complete by 2024.
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