As part of his draft London Plan, the mayor’s vision for the capital suggests that the implementation of policy to realise the housing potential of town centres “can be supported by a range of mechanisms for investment and ongoing management”.
Among the mechanisms cited by the document are LABVs, as well as tax increment financing and real estate investment trusts.
The plan also reinforces the mayor’s commitment to delivering a number of new river crossings in the capital, including the Silvertown Tunnel, plus a new crossing linking Rotherhithe and Canary Wharf, an extension of the Docklands Light Railway and a new London Overground crossing between Barking Riverside and Abbey Wood.
There are also detailed explanations of the benefits that Crossrail 2 could have on the areas that it will run through. Although no funding for the line is considered, it is anticipated that a mixture of user fees and land value capture will form part of the financing mix.
Khan also pledged to deliver a range of green infrastructure investments, such as more charging points for electric vehicles, while protecting the green belt despite plans to increase the rate of new housing in the capital.
“With London’s population expected to increase by 70,000 every year, reaching 10.8 million in 2041, it’s vital we properly plan for growth with new affordable homes in every area of the capital,” he said.