First TfL residential developments set in motion
26 November 2015, Blog
Transport for London has filed planning applications for its first residential developments at Nine Elms, Northwood and Parsons Green. Coming after the organisation announced plans to enter the world of property development, the three sites will contain around 600 new homes, as well as retail units and “high quality public spaces”.
The announcement at Nine Elms comes after the confirmation of a £1bn extension to the Northern Line, and will include 362 new homes. TfL say a quarter will be affordable, in comparison to 20 per cent affordability at Northwood, which will see 127 new homes and a new tube station. On the former London Underground depot at Parsons Green, 119 new homes will be built, 40 per cent of which will be affordable, again with retail units and public space.
It is the beginning of TfL’s ambition to deliver 10,000 homes across London in the next 10 years. Last month, TfL put more than 300 acres across 75 sites forward for development. Among the sites on offer were its iconic headquarters at 55 Broadway, a brownfield development in Hounslow, and schemes over stations like that at Southwark.