TfL announces plans for 10,000 homes

The first batch of a total of 75 sites, 67% of which will be in the central areas of Zones 1 and 2, will be available from the start of next year and offer “significant opportunity” for the private rental sector, TfL said.

Graeme Craig, director of commercial development, said TfL – the government corporation which runs much of London’s transport network, including the underground – wanted to create long-term income streams through private rents to invest in the transport network.

He added TfL could deliver larger sites for development alongside public sector organisations which own adjoining land, and some sites could be made available to smaller developers.

“TfL is not just going to be working with the big developers in London,” Mr Craig added. “I want to see us working with a range of sectors and we have enough sites to be able to do that.”

Tom Copley, Labour’s housing spokesperson in the London Assembly, welcomed the move, but added: “What is important, however, is that TfL understands the need is for affordable, family homes, not just more luxury flats which are only affordable to the super-rich.

“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.”