Transport for London (TfL) has signed a partnership deal with property developer Apartments for London (AfL) to build affordable housing on its land.
The agreement will see Apartments for London put up modular homes over car parks and other available sites on TfL land.
Planning applications for the first three developments, with the potential for around 450 affordable homes, are expected to be submitted later this year.
TfL commercial development director Graeme Craig said: “This partnership helps us provide affordable homes that London desperately needs, while generating vital revenue to reinvest in the transport network. Apartments for London offers modern, precision-manufactured homes, and working with such innovative partners we can develop sites that would not otherwise have come forward and deliver homes at a considerably quicker pace than is offered through traditional construction.”
Apartments for London chief executive Johnny Goldsmith said: “We launched Apartments for London with the belief that we could approach things differently and create a fairer, more responsive housing market for young professionals and key workers who are fundamental to London’s continued presence on the global stage. By looking at housing with a more strategic mindset and seeking public sector partnerships, this is the first important step in our journey.”
The partnership with AfL is one of several that TfL has. It has plans to build more than 10,000 homes on its own portfolio across London. TfL set up a property partnership programme in 2016 with 13 developers.