The new masterplan for the 12.8 acre site,is a collaboration between architects Dixon Jones, Squire and Partners, and landscape architect Kim Wilkie.
The former Rogers Stirk Harbour + Partners masterplan featured a modernist layout of apartment blocks, while the new proposal creates a public garden.
The site is now solely owned by Qatari Diar Real Estate, a development conglomerate owned by the Qatari royal family. They bought the barracks for £1bn in May 2006 from the Ministry of Defence along with millionaire brother Christian and Nick Candy.
But the deal fell through last year after the Prince of Wales' intervention which led to Qatari Diar withdrawing its original plans for the barracks.
The new masterplan is yet to go to Westminster City Council.