Transport for London (TfL) has named its preferred partner in a joint venture to develop 400 homes in south east London and secure income to invest in transport.
Together with preferred bidder Triangle London Developments, TfL will develop a vacant site it owns in Kidbrooke to deliver new homes – 50% of which will be affordable – plus commercial, retail and office space, as well as an improved transport hub and village square.
Kidbrooke was the first in a series of TfL sites to be released for development last year to support mayor Sadiq Khan's manifesto pledge to unlock public land to build thousands of affordable homes.
An 'indicative image of the potential development'
TfL said it has ‘ambitious’ plans to develop hundreds of acres of its land, generating hundreds of millions of pounds to reinvest in transport.
James Murray, deputy mayor for housing and residential development, said: 'The mayor is determined to fast-track more public land for development and to ensure at least half the new homes across TfL's portfolio of sites will be genuinely affordable.’
Graeme Craig, commercial development director for TfL said: 'Naming our preferred bidder is an important step forward in transforming this long-vacant site.
‘We were delighted with the quality of design proposed by Triangle London Developments, and are excited about working with them to create a thriving, vibrant place to live and work.’
The four-acre site in the Royal Borough of Greenwich is close to the Zone 3 Kidbrooke national rail station and the Henley Cross bus station.
TfL said that subject to final approval by its finance committee, contract completion and planning permission, work should start on site in 2018, with the aim of having the first homes available by 2020.