Khan pledges to set up City Hall-owned developer to build affordable housing

His Conservative rival, Shaun Bailey, unveiled proposals for a City Hall-controlled house builder in July 2019.

Liberal Democrat runner Luisa Porritt has also pledged to set up a London Housing Company.

Mr Khan has agreed a target with ministers to start 82,000 affordable homes through his £4bn portion of the Affordable Homes Programme over the next five years.

He has not confirmed how many of these would be delivered by his GLA-owned developer.

The Greater London Council, the GLA’s predecessor body abolished in 1986, built an average of 5,000 homes a year in the late 1960s and early 1970s.

Mr Khan said: “London’s housing crisis needs urgent action, and despite exceeding my annual targets and starting record numbers of affordable homes for Londoners, there is still a mountain to climb – we need to go further, faster.

“I am determined to ensure Londoners get the homes they need and secure a brighter future for our city, so I’m taking matters into my own hands.

“If re-elected I will establish City Hall as a master developer of new genuinely affordable homes, so that much-needed additional homebuilding capacity can be added in London.”

The GLA and its agencies have previously taken on developer roles with partners in the Barking Riverside and Royal Docks flagship schemes.

In a manifesto document to be published this week, Mr Khan will also set a target for 10,000 council homes to be built across London during his term, as well at least 1,000 longer-term homes for rough sleepers.

He will also commit to trailblazing the use of commonhold in new build flats in the capital.

Previously, Mr Khan has promised to amend planning guidance to give key workers priority for intermediate affordable homes and to press ministers to grant him the power to impose rent controls in London.