TfL is going to build 10,000 homes in London to pay for transport in the capital
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Version 0 of 1. Transport for London is going to build 10,000 homes in London. TfL is one of the biggest landowners in the capital. it owns 5,700 acres across 3,000 sites including buildings, land attached to Tube stations, railways and highways. It is selling off only a small portion of this, some 300 acres, to developers. But TfL is reportedly already considering what other sites to develop. About two-thirds of the land being used is in zones one and two, TfL has said. It wants to use the land to provide homes, offices and shops to support London's rapidly growing population - which is expected to grow from 8.6 million people in 2015 to around 10 million. TfL thinks it can raise £3.4 billion in revenue by 2023 to reinvest in public transport. Graeme Craig, director of commercial development at TfL, said that all the revenue will go towards transport. "All revenue raised from the developments will be reinvested into the transport network, helping us to bear down on fares and continue to support London's economic growth and booming population," Mr Craig said. Not necessarily. TfL said it is working with planning officers in local councils to maximise the amount of affordable and social housing Far from it. This "land release programme", which is what TfL are calling the house-building scheme, is in addition to a £360 million fund. That money is being used to build 50,000 homes and create 30,000 jobs, which will support 14 transport projects in London.
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