It is yet unclear what ratio of all developments will need to to be classed ‘affordable’ but it is possible the Mayor will target 35% , Inside Housing reported.
Sadiq Khan set out plans in September to implement new planning rules for those who can prove their development will contain a certain percentage of affordable homes, which will effectively allow the project to be waved through, the publication said.
In contrast, developers that don’t meet the Mayor’s threshold would face tougher scrutiny before gaining planning permission, and would need to explain the reasons for missing the target.
London’s draft supplementary planning guidance is due to be published for consultation in the autumn.
It is yet unclear how much money London will receive from the government’s Shared Ownership and Affordable Homes Programme, which will disburse £4.7bn in capital grants between 2016 to 2021.
However, Khan has a long-term strategic goal for the city, as set out in his manifesto, to have 50% of homes classed as affordable. In contrast, he said, about 13% affordable housing was approved last year, when Boris Johnson was in office.
The Mayor said he wants to help developers by freeing up land owned by Transport for London (TfL).
He had identified the potential to build up to 10,000 new homes at 75 sites across 300 acres of land owned by TfL in the capital, and is working to fast-track sites to be used for construction.
City Hall already released the first TfL site for development in August in Kidbrooke in Greenwich in south east London, which will provide 400 new homes, half of which will be classed affordable to rent and buy.