Teachers, health service staff and other key workers will be able to rent homes under a new housing development at Heyford Park, Upper Heyford.
Plans for 750 homes have been sent to Cherwell District Council by the North Oxfordshire Consortium (NOC), which is managing the former USAF airbase.
The consortium wants to retain 264 existing houses and a block of 30 flats.
Of the 750 houses, more than 100 would be available for rent. Some of the 264 existing homes could also be leased.
The plan also includes a community centre, a doctors' surgery, a nursery, a primary school and possibly a pub or restaurant. The existing shop would remain.
Keith Watson, NOC chief executive, said they had taken on board comments made by Cherwell District Council and the public from roadshows held for an earlier plan.
Environmental improvements include the creation of a grass parkland for wildlife at the end of the main runway.
The ancient Portway bridleway along the airfield boundary would be re-opened, restoring a link in the public footpath network.
Mr Watson added: "Heyford Park is a huge brownfield site.
"The opportunity exists to re-use and redevelop the site for new housing with associated community facilities, services and employment opportunities, helping to meet Oxfordshire's housing requirement.
"Such a re-use is entirely consistent with the Government's approach to previously used land and sustainable development."
Planning consultant Ian Tant said: "We have addressed technical concerns raised by Cherwell District Council to the earlier plan. The ball is now in their court."
A series of public open days to inspect the revised plans will be held at Heyford Park House from Wednesday.
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