TfL

TfL forms partnership with Pocket Living



Transport for London (TfL) has partnered with Pocket Living to deliver affordable homes for first-time buyers at a number of TfL sites.

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Pocket Living will build around 125 one-bedroom homes, subject to planning permission, on TfL sites, which will then be sold outright to buyers at a discount on the open market value.

Pocket homes are prioritised for people who already live or work in the borough and are first-time buyers.

The homes are targeted specifically at local singles and couples, who earn too much to qualify for social housing, but are priced out of the open market.

Buyers who purchase a Pocket home own 100% of their property from day one.

Graeme Craig, director of commercial development at TfL, said that Pocket Living was building a great reputation for high-quality, genuinely affordable housing for first-time buyers, and would help it to develop sites that would not otherwise come forward.

“This partnership marks another important step in us assembling the most important development pipeline in London – building thousands of social rented and other genuinely affordable homes across the capital and generating hundreds of millions of pounds to reinvest in the transport network.”

Marc Vlessing, CEO at Pocket Living, said that Pocket Living was delighted to be working with TfL to deliver homes that Londoners desperately need.

“More affordable homes are crucial for London's city makers, its teachers, nurses and charity workers, who are currently priced out of the open market and salaried out of social housing.

“The mayor and his team at the GLA and TfL have rightly identified affordable housing as a priority and recognised the need to speed up the supply of homes.”



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