Transport for London has teamed up with Network Rail to build 20,000 new homes on land they own above and around tube stations and key transport hubs in the London area. Half of the new apartments in the five new schemes will be classed as affordable.
“As two of the most significant landowners in London, it makes perfect sense for our organisations to work together,” said Graeme Craig, chief executive of TTL Properties, TfL’s commercial property arm. “We are looking to combine our efforts to deliver more homes, with a focus on affordable housing and with great social impact that benefits local communities as well.”
Significant improvements to TfL and Network Rail stations will be made at the same time as the new residential schemes in different parts of London are built. Local councils have already approved the plans.
Work has already started on site on a 454-home development next to Wembley Park Tube by housebuilder Barratt London. The five-building development, a mixture of studio, one, two and three-bedroom properties, will be 40% shared ownership and London affordable rent and will be car-free except for Blue Badge holders. It is set to be completed by 2027.
Work will start later this year on the residential development of a site close to Southall station, on the Elizabeth Line, with 460 apartments, 40% of which will be let at affordable rents, across five buildings. The scheme, to be completed in 2026, will be sustainable, with solar panels on the roof and air-source heat pumps.
Another development that will be ready to move into in 2026 is above Nine Elms Underground Station, which opened recently as part of the Northern Line extension. The 479-home scheme includes a roof terrace, gym and workspace and 40% of residential space will be affordable.
No date has been set for work to start on the biggest scheme of all, a nine-building, 852-apartment development next to Acton Town station, with half of the homes for sale and half for rent.
Another scheme to build 98 homes on an area next to Barkingside Tube station, previously used as a builder’s yard, will be completed in two years’ time. All the homes, built in partnership by housing association Peabody and regeneration specialist Vistry, will be affordable.