Earlier this year it was announced Andium Homes had bought the 9,100 sq metre Gas Works site for an undisclosed sum.
It said it was due to replace the previously passed plans submitted by Brookfield Tunnell Street Holdings Ltd to build about 250 homes on the site with a much smaller development and extend the park.
And on Tuesday it announced plans to extend the park by 50 per cent onto the Gas Works site and build 110 homes and possibly a 200-space underground car park.
Andium already has plans to create an additional 600 homes on other sites in the area, including Robin Hood, Convent Court, Ann Court, Ann Street Brewery and the Ann Street Boiler House.
St Helier Constable Simon Crowcroft said: ‘The current town park is well-used by the public and the proposed increase in open space would bring significant benefits to the local community.’
If the proposal is passed by the States a public consultation would be launched. Any plan to create underground car parking would require planning permission.
Ministers hope that if the project is given the go-ahead it will be completed by 2023.