The Mayor of London, Sadiq Khan, today announced his plans to unlock a fourth location for development by Transport for London (TfL). The site, located on Forest Road, in northeast London, could deliver approximately 350 new homes by 2022, with the aim of making 50 per cent of them affordable.
The 1.8 acre site is part of the Mayor of London's Blackhorse Lane and Northern Olympic Park Housing Zone, located in the London Borough of Waltham Forest and conveniently located opposite the Blackhorse Road station, which is served by the Victoria line and London Overground. The site is currently used as a car park and is surrounded by former industrial spaces which are being redeveloped to provide around 1,700 new homes, as well as retail, commercial and leisure spaces and improved pedestrian connectivity for the local area.
Following the Mayor's announcement today, TfL issued a tender document seeking bids from interested members of the TfL Property Partnership Framework. TfL expects to announce a preferred bidder later this year to form a joint venture partnership which will develop the site. Subject to permissions, works could start on site in 2019 with new homes ready in 2022.
James Murray, Deputy Mayor for Housing and Residential Development, said:
'The Mayor is committed to making sure TfL land is fast-tracked for development, helping to raise revenue and build new homes. This site at Blackhorse Road gives us a great chance to build hundreds of homes right near a Tube station, including the genuinely affordable homes Londoners so urgently need.'
Graeme Craig, Director of Commercial Development for TfL, said:
'We are delighted to have the opportunity to transform this site with a joint venture partner into hundreds of new homes for Londoners and vital revenues to reinvest in transport. This site is uniquely located at the centre of what is quickly becoming a hub of new residential, leisure, retail and work spaces, expanding pedestrian connectivity and vibrant community activity in the area.'
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