Up to 46,000 new homes in the capital could be delivered by Transport for London's new property development company over the next 25 years.
The proposals would form part of TfL's bailout settlement with the government. TfL director of commercial property Graeme Craig said: "As part of our long-term strategy, and building on the successful work that has already taken place in recent years, we are now looking to take forward development activity in a commercial property company that is wholly owned by TfL."
Craig said half of the new build homes would be affordable with the revenue to be reinvested in public transport. Brokers Hank Zarihs Associatessaid SME builders would be keen to be involved and that property development finance lenders would support them. TfL already has more than 6,300 homes with planning committee approval with 479 homes for Nine Elms and 51 homes for Old Brompton Road the most recent consents.