Network Rail and TFL on Track to Build 20,000 New Homes
Network Rail and Transport for London have announced plans to join forces to develop more than 20,000 new homes over the coming decade.
Network Rail and TFL are already amongst the biggest land owners in Greater London, with a portfolio covering over 14,000 acres of land between them. Whilst most land is currently being used for stations, retail and commercial units, they have recently stated that a large proportion of brownfield sites with little to no use at present., hence plans being formulated to develop new homes on the empty plots.
Network Rail is set to form a strategic partnership with TTL Properties, TFL’s wholly owned commercial property company, aimed at accelerating the delivery of regeneration and development activity across London. The agreement is the first of its kind between the organisations, aiming to deliver the vast majority of the homes within the next 10 years across London and the South East.
With London having been in amidst of an affordable housing crisis for decades, the focus for the new developments is to create a plethora of affordable, obtainable and desirable homes, benefitting local communities whilst boosting the economic growth of the Capital.
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