The extension project to Lewisham via Old Kent Road and New Cross Gate will support growth through new housing, improved connectivity, increased transport network capacity and reduced journey times to key destinations.
At least 25,000 new homes are expected to be delivered by the scheme, supporting 5,000 new jobs. Other benefits include extra capacity on London Underground, congestion relief on roads and a reduction in CO2 emissions and air pollution.
Four new stations are being proposed along the route to boost connectivity and support regeneration. This includes two stations along Old Kent Road, one at New Cross Gate, providing an interchange with London Overground and National Rail services, and one at Lewisham, providing an interchange with the DLR and National Rail services.
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A consultation has been launched setting out detailed proposals for the station's locations. Planned locations of ventilation shafts needed to support this extension also form part of this consultation.
In addition, the plans set out the need to undertake further capacity upgrade works to the Bakerloo line station at Elephant & Castle. The completion date has been brought forward by two years to 2028/29, to align with the timetable for the upgrade of the Bakerloo line.
Sadiq Khan, Mayor of London, said: "A Bakerloo line extension to Lewisham would make it easier for our residents to travel around London and it would bring in much needed investment. Lewisham is growing fast and a Bakerloo line extension to this part of south London will help to support that growth in Lewisham and beyond."
Councillor Mark Williams added: "We have big ambitions for the Old Kent Road regeneration, which will pull central London further south and help transform the length of this historic thoroughfare into a dynamic new high street bustling with new homes, including at least 35 per cent affordable homes, new shops and cafes, workspaces, parks and open spaces and safer networks for cyclists and pedestrians."
Transport for London is proposing to submit a planning application by 2020, with further public consultation expected in the future.
The current public consultation will run until 21 April.
(LM/JP)
