Mayor Sadiq Khan is making a plea to Ministers for a £470 million injection, aiming to propel the construction of tens of thousands of new homes across London on brownfield sites.
The mayor's funding request coincides with Chancellor Jeremy Hunt's impending Autumn Statement, where the Government's tax and spending plans will be unveiled.
According to City Hall, this financial boost would play a crucial role in "unlocking or accelerating" the development of 76,000 homes on brownfield land, facilitating the enhancement of transport infrastructure and site preparation.
By concentrating on brownfield sites, the initiative aligns with sustainable practices and urban regeneration.
The focus extends to east London, with priority areas like the Royal Docks, where City Hall investments are already fueling the construction of over 4,000 new homes.
Mayor Khan's appeal is amplified by Newham mayor Rokhsana Fiaz, who emphasizes the urgency, stating her borough's "growing housing crisis" and the need for brownfield development to be prioritized in the Autumn statement.
She added; “We are also facing growing cost pressures because too many people are being made homeless and we are having to place them in expensive temporary accommodation… so brownfield development needs to be given the green light in the Autumn statement.”