Transport for London is to release more than 300 acres of land to help create more than 10,000 homes across London.
The authority expects to raise £3.4billion by 2023 from the move, which will see housing, offices and retail units built to help cope with the capital’s growing population over the next decade.
TfL said 67% of the developments would be within Zones 1 and 2 and it would work with planning officers in local councils to maximise the number of affordable homes built.
London’s population is set to grow from 8.6 million to around 10 million by 2030 and TfL said it would pump funds raised back into its network.
Early outline plans include a development over Southwark Tube station.
Mayor of London Boris Johnson said: “TfL’s plans will build on the great efforts we’ve already made at City Hall to ensure brownfield land that has laid empty for years is put to productive use in providing much-needed housing for Londoners.
“It’s important that all key agencies work together to accelerate the rate of house building across the Capital and redevelop land and assets wherever possible to deliver more homes.”
TfL is one of the largest landowners in the Capital, with a portfolio of around 5,700 acres.
Director of commercial development at TfL Graeme Craig said: “We’re determined to use our assets to help create more homes and jobs for Londoners.
“As the custodians of some of the best assets in the capital, it is right that we explore every opportunity to maximise the use of our land.
“This next phase of development will see us working with our partners to turn those plans into reality.
“All revenue raised from the developments will be reinvested into the transport network, helping us to bear down on fares and continue to support London’s economic growth and booming population.”