The Bakerloo line extension has got a funding boost as part of a some planned new developments. Almost £4 million has been allocated by Southwark Council for key projects including a new LGBTQ+ space at Bankside Yards and vital work for the Bakerloo Line extension.
Due to open in 2026, the new development will feature a theatre and workspace. It’ll be on the site of the former XXL club which closed in September 2019.
Southwark Council has also granted £2.4million for the development of a 100 per cent affordable housing scheme at 634-636 Old Kent Road. As it is located above the planned Bakerloo Line extension tunnel, the funding will pay for extra engineering work to reduce vibration and noise, and ensure the tunnel is not affected by the building. £30,000 have thus been allocated towards the Bakerloo Line Extension Funding Study.
Cllr Helen Dennis, Cabinet Member for New Homes and Sustainable Development said: “These are major projects that will directly benefit residents and businesses and help us to build a better and fairer Southwark for all. Our LGBTQ+ community will massively benefit from the new space and the facilities on offer.
“We’re also investing to make sure that both a new site with 100 per affordable housing and the Bakerloo Line Extension can happen. Making sure money from developers is reinvested back into our communities is a vital part of what we do and we’ll keep ensuring that money goes towards making a real difference and improving life for the people of Southwark.”
The funding was agreed earlier that month, and comes from Community Infrastructure Levy.
For the Bakerloo Line extension, TfL is hoping to run trains past Elephant and Castle by 2040. If approved, the extension would see Tube services call at New Cross Gate and Lewisham, and later at Hayes and Beckenham Junction.
The project is currently on hold while TfL appeals to the government for funding. It is thought the core extension alone would cost between £5.2 billion and £8.7 billion, based on figures from 2021.
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