Mayor Khan is proposing to transform the 12.3 acre Limmo Peninsula site, which is currently being used to build the new Elizabeth Line, into a new residential-led neighbourhood.
With plans to make around 600 homes (40%) 'affordable', Transport for London (TfL) is now inviting bids to take forward the development, with a preferred partner expected to be announced later this year.
Mayor 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.
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"It is part of my strategy to free up public land and to use it to build the homes that our great city so desperately needs. It is no secret that it will take many years to fix London's housing crisis, and we ultimately need Government support – but schemes such as this prove that we are can make a real difference now by delivering high-quality neighbourhoods with a large proportion of genuinely affordable homes."
Graeme Craig, Director of Commercial Development at TfL, said: "This is the biggest site yet that we've released to our Property Partnership Framework and is a great example of a high-density development enabled by excellent transport links.
"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."
Image credit: TfL.
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