City Mayor Sadiq Khan announced proposals to unlock the 1.8-acre development site near Blackhorse Road Tube station on Thursday, 02 March.
Around 50% of the homes on the Forest Road site are to be 'affordable' and could be delivered by 2022.
In addition, the site is part of the Mayor's Blackhorse Lane and Northern Olympic Park Housing Zone, located in the London Borough of Waltham Forest. It is currently used as a car park and is surrounded by former industrial spaces which are being redeveloped to provide around 1,700 new homes, as well as retail, commercial and leisure spaces and improved pedestrian connectivity for the local area.
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TfL has now issued a tender document seeking bids from interested members of the TfL Property Partnership Framework to take forward the scheme.
A preferred bidder to form a joint venture partnership is expected to be announced later this year. Subject to permissions, works could start on site in 2019.
James Murray, Deputy Mayor for Housing and Residential Development, said: "The Mayor is committed to making sure TfL land is fast-tracked for development, helping to raise revenue and build new homes. This site at Blackhorse Road gives us a great chance to build hundreds of homes right near a Tube station, including the genuinely affordable homes Londoners so urgently need."
Graeme Craig, Director of Commercial Development for TfL, added: "We are delighted to have the opportunity to transform this site with a joint venture partner into hundreds of new homes for Londoners and vital revenues to reinvest in transport. This site is uniquely located at the centre of what is quickly becoming a hub of new residential, leisure, retail and work spaces, expanding pedestrian connectivity and vibrant community activity in the area."
(LM/MH)
