Transport for London has formally opened up a bidding race for the £260 million rail extension at Barking Riverside, with the 4.5 km rail line set to serve as the capitalâs largest planned housing scheme.
TfL is looking for contractors to express an interest in the development, while next year is expected to see the group offer a formal invitation to tender.
Construction on the site is expected to commence from late next year, with the line extension and new Barking Riverside station set to be fully up and running by 2021.
The bidding for the rail extension contract has opened almost six months after TfL approved £172 million of funding for the line, which will pave the way for construction to start on the residential scheme.
Bellway Homes was the original developer of the project and they had planned to build 10,800 homes on the site in 1994, however these proposals were never followed through due to a lack of transport links in the area.
In March, TfL put forward a Transport and Works Act Order to the Transport Secretary, with a decision on this expected to be made later in the year.
The new Barking Riverside development scheme will see the construction of over 10,800 homes, as well as leisure facilities, retail outlets and a new school.
L&Q are the company that will develop the site after the firm purchased a 51% stake in the project from Bellway Homes, which will stay as a development partner on the project.
As part of the deal, L&Q also agreed to commit £70 million to the construction of the new station and the Overground extension.
A section 106 agreement meant that up to 1,500 homes could be constructed ahead of the construction of the Overground extension. However, according to Barking & Dagenham Council, only 800 homes have been delivered so far.