Transport for London
TfL land made available for new homes
More than 10,000 new homes could be created for Londoners under plans to release around 300 acres of TfL-owned land.
The land - largely based in Zones 1 and 2 - will be developed over the next ten years to provide the homes, offices and retail space needed desperately to support the capital's booming population. The number of people living in London is set to grow from 8.6m today to around 10m by 2030.
The public transport organisation will work with planning officers in local councils to maximise the amount of affordable and social housing created.
Mayor 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.'
The plans for new homes are part of TfL's aim to make £3.4bn in non-fares commercial revenue by 2023, which it can then reinvest in its services. TfL's director of Commercial Development, Graeme Craig, said: '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.'
The new land-release programme complements the work of TfL's £360m growth fund, which is already creating more than 50,000 homes and 30,000 jobs by supporting development projects across London.
TfL's property portfolio includes:
- Listed buildings that offer the opportunity for residential conversions
- Major regeneration schemes in urban centres
- Brownfield developments in inner and outer London
- Mixed-use and residential developments over stations and depots
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