YTL Developments (UK) Ltd plans to build 1,000 more homes at Brabazon in north Bristol, adding to the existing 2,675 units.
The new figure of 3,675 homes could nearly double to 6,500 in the future, delivered in stages, under a "flexible framework" sought by the developer if infrastructure permits.
In a statement issued on December 9, the company stated that it intends to increase green space and job opportunities.
Brabazon is a mixed-use development scheme - a new neighbourhood for Bristol - being built on the former Filton Airfield, the largest brownfield site in the South West.
YTL Developments received planning permission in 2018 to convert this historic landmark into an urban community.
"Nowhere in the West of England is better placed than Brabazon to build the new homes, offices, schools, and community facilities that are environmentally and economically sustainable," said the company's planning and development director, Seb Loyn, in a statement.
The revised master plan ensures that Brabazon can do more to assist the region in addressing housing shortages and climate change.
The 354-acre Brabazon, YTL Developments' first major mixed-use scheme in the United Kingdom, will take more than ten years to complete.
The current masterplan calls for the construction of 2,675 homes, including studio, one, two, and three-bedroom apartments, as well as two, three, and four-bedroom houses, 62 acres of commercial space, and community facilities such as three schools, a library, a doctor's surgery, and sports facilities.
All of this would be surrounded by parkland and landscaped public squares.
In addition, the company received permission in 2020 to transform the iconic Brabazon Hangars – where every UK Concorde was built – into a 17,000-capacity arena for Bristol.
The iconic Brabazon hangars, which cover 26 acres and are 352 metres long and 35 metres tall, have been a part of Bristol's history since the 1940s.
YTL Developments plans to transform the hangars into YTL Arena, a world-class indoor entertainment complex that will put Bristol on the map around the world.
Following a public consultation that began recently to help shape the future of Brabazon, the company stated that it plans to submit an updated masterplan application for Brabazon for the council to consider next month.
The critical elements of the revised proposals are more green space, jobs, homes and sustainable living.
According to Loyn, Bristol and South Gloucestershire face a housing crisis, and the region needs to build more than 100,000 homes in the next ten years to meet demand.
"We also face a climate crisis, so it is not enough to build homes: we must build them in the right places. That means on brownfield land along existing transport corridors, rather than on green fields in out-of-town locations. We have the opportunity to build back better following Covid-19, creating the space, the connectivity and the opportunity for local businesses across the region to drive prosperity for the next generation," he said in the statement.
Lyon stated that the revised master plan would allow Brabazon to assist the region in addressing housing shortages and climate change.
"By putting in place the proper framework now, we will be able to adapt our plans for Brabazon as future demand dictates. The revised planning application will also ensure that we can only build at the same rate as new infrastructure and transportation connections are developed, " he said.
Bristol, located approximately 193 kilometres west of London, is an aerospace and technology hub. It saw a significant increase in demand during the pandemic as thousands embraced new freedoms to work from home.
According to Rightmove, the hottest property located in the United Kingdom this year was a Bristol neighbourhood.
Easton, which is located northeast of Bristol's city centre, stood out in a buoyant national market, with more than eight out of ten properties for sale sold subject to contract.