The hybrid planning application submitted includes outline plans for the development of up to 3,850 new homes, of which 35% are proposed as affordable, as well as a local neighbourhood centre, schools, amenity space and green infrastructure.
The application also seeks full planning permission for the first phase of the scheme to comprise 228 homes, including 80 affordable homes, as well as internal roads and pathways.
Under the scheme, six listed buildings will be refurbished, including the Cambridge Military Hospital and Headquarters 4th Division which will be preserved and brought back into use as homes and community facilities.
The AUE site is one of the largest brownfield regeneration sites in the south east of England and is made up of about 150 hectares of development land plus over 100 hectares of green open space.
Grainger has been appointed as development partner for the scheme by the Defence Infrastructure Organisation, which is the property arm of the Ministry of Defence and which owns the development land.
"We are pleased to submit this major planning application, which, if approved, will help revitalise and improve Aldershot as a whole," said Grainger's development director for the AUE, John Beresford, in a statement.
"By working closely with the community, the Council, the MoD, HCA and other stakeholders, we believe our proposal will bring long-term economic benefits to the wider Aldershot community, while providing much-needed, good quality new homes, new schools and fantastic green open spaces and amenities," he said.
The Council said its Development Control Committee will consider the planning application by the end of July. If approved, Grainger said it plans to start work on the first phase in early 2014.