Responding to the London Assembly Housing Committee’s report ‘Homes down the track – a marathon and a sprint for TfL’, Kat Hanna Research Manger at Centre for London said:
“As a land owner of 5,700 acres of land, it makes sense for TfL to build at and around stations.Yet while the theory is sound, the practice is far from straightforward. Trade-offs that may have to be made in order to make station development projects viable, successful, and popular.
“Making the most of some of TfL’s opportunities presents a challenge in terms of land assembly, partnerships and planning. A number of projects on this scale have faltered, even when located in areas designated for densification. These projects take a long-time to realise, particularly where conservation and local character concerns complicate planning.”
“And finally, Sadiq Khan’s fare freeze means further constraints on TfL income, which property development was intended to provide as government grants reduced. As a result, targets for 50 per cent affordable housing may come under pressure, though any retreat from these would be highly controversial.”
“How this plays out is yet to be seen. These challenges and solutions are explored further in Centre for London’s forthcoming report on the potential for developing above and around London’s stations.”