Transport for London is seeking a partner to transform a 12 acre site currently being used to build the Elizabeth Line into a new residential-led development providing 1,500 new homes, 600 of which will be “genuinely affordable”.
The Limmo Peninsula site in East London forms a key part of the Canning Town and Custom House regeneration area and is TfL’s largest plot of vacant land.
Mayor Sadiq Khan said: “The Limmo Peninsula has the capacity to be transformed into a booming new East London neighbourhood.
“With Elizabeth Line works almost complete, I am pleased that Transport for London is now in a position to bring forward this site for development.”
Graeme Craig, Director of Commercial Development at TfL, added: “Limmo Peninsula will make a significant contribution to meeting London’s demand for more affordable homes.
“It’s hugely exciting to be supporting growth in this area of east London and the development will secure vital long-term income that we can reinvest in the transport network.”
London Assembly members have expressed unhappiness that the share of affordable homes on the site will be just 40%.
Sian Berry AM, Chair of the Housing Committee, said: “In June last year, the London Assembly Housing Committee report ‘Homes down the track’ recommended that the Mayor and TfL make better use of public land to deliver more homes in London. However, even this announcement is unlikely to ease the problems in the short term.
“The fact that only 40 per cent of the homes proposed today will be affordable is sadly unambitious – this is public land and the Mayor’s own target is actually 50 per cent affordable.”
Mr Khan’s office says the target relates to TfL’s total output and will be achieved by building higher numbers of affordable homes on some other sites.