TfL unveils plans to build 10,000 new homes in London
Transport for London (TfL) unveiled plans to build 10,000 homes across the capital over the next ten years as part of an effort to raise £3.4 billion.
TfL has put forward more than 300 acres of its land, across 75 sites, to create new homes, offices, and shops. Most of the sites put forward are in London’s central zones 1 and 2.
The local government body is one of London’s largest landowners, owning around 5,700 acres in total.
Boris Johnson said: “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 housebuilding across the capital and redevelop land and assets wherever possible to deliver more homes.”
TfL says it is “determined to work with all partners — the mayor, London’s boroughs and the commercial property development sector — to bring forward all that it can in innovate and creative ways, to respond to London’s needs in terms of infrastructure, housing and commercial and retail property”.
Tom Copley, City Hall Labour’s Housing Spokesperson, welcomed the announcement, but stressed that new housing should be affordable.
“While we need to develop a new income stream for TfL to keep fares down, we also need that to be balanced by a focus on meeting the housing needs of ordinary Londoners not solely chasing the highest price, which risks costing the capital more in the long run. This will be a challenging balancing act but it is vital if we are to get the most benefit possible from TfL’s land reserves.
“Given the disappointingly small amount of affordable housing included in the deal to sell their former Broadway HQ, it seems TfL has a way to go before it finds that balance.”
Graeme Craig, TfL’s director of commercial development, said that more sites could be put forward for development in the future.
He said: “This is only the first wave of sites. We are also looking at zones three to five, which we expect to bring forward next year and will be used to build more affordable housing for Londoners,”