Mayor Sadiq Khan has outlined a five-year plan to build new affordable homes, the majority of which will be made available on social rent terms.
The plan will run alongside his existing 2016-23 affordable homes programme which is being extended by one year due to the pandemic. City Hall says the two plans will deliver 82,000 new homes.
Funding for the new plan comes from a £11.5bn government investment in affordable homes across England announced in September, of which £4bn was allocated to City Hall.
Housing providers bidding for funding will need to ensure homes contribute towards the mayor’s targets for London to be a zero-carbon city by 2030, as well as meeting rules on room space and the installation of sprinklers or other fire suppression systems in all new blocks of flats.
Mayor Khan said: “Despite significant progress over the last four years to build the homes our city needs, the reality is too many Londoners still can’t afford a decent home to rent or buy.
“This is why I have put the twin goals of affordability and quality at the centre of my new Affordable Homes Programme. All Londoners deserve a safe, secure home with enough space to live comfortably, and private outside space to enjoy fresh air.
“I want to deliver a new generation of social housing in London that sets the standard nationally when it comes to excellent design, safety and sustainability.”