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21/10/2015

TfL releases land across capital for 10,000 homes

Words: Laura Edgar

Transport for London (TfL) has released land for the development of 10,000 new homes over the next decade, with 67 per cent in Zones 1 and 2.

TfL said the land, amounting to more than 300 acres, would also provide “vital” new offices and retail units to support London’s “rapidly growing population and the capital’s contribution to the economy of the country”. The aim is to generate £3.4 billion in non-fares commercial revenue by 2023 to reinvest in London’s transport - supporting jobs and economic growth.

TfL said it would be working with planning officers in local councils to maximise the amount of affordable and social housing that is delivered. Additionally, it will work with Mayor of London Boris Johnson, London’s boroughs and the commercial and property development sector.

Graeme Craig, director of commercial development at TfL, said: “We’re determined to use our assets to help create more homes and jobs for Londoners. As the custodians of some of the best assets in the capital, it is right that we explore every opportunity to maximise the use of our land. This next phase of development will see us working with our partners to turn those plans into reality. All revenue raised from the developments will be reinvested into the transport network, helping us to bear down on fares and continue to support London's economic growth and booming population.”

Johnson added: “TfL's plans will build on the great efforts we've already made at City Hall to ensure brownfield land that has laid empty for years is put to productive use in providing much-needed housing for Londoners. It's important that all key agencies work together to accelerate the rate of house building across the capital and redevelop land and assets wherever possible to deliver more homes.”

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