City Hall has unveiled plans to construct its first development consisting entirely of affordable housing at a site in Walthamstow.

Mayor of London Sadiq Khan said 330 new homes could be built at the former Webbs Industrial Estate in Blackhorse Lane after the GLA sold the site to housing association Catalyst last week.

As well as affordable housing, the redeveloped estate, which was once home to a glass lampshade and bulb factory, will also feature workspace, artist studios and a park area.

Mr Khan said: “For too long there was a severe lack of genuinely affordable homes being built in London, which fuelled the housing crisis and is robbing many Londoners of their dream of buying their own home.

“I’m doing all I can to help fix London’s housing crisis, but it will take time to turn things round. I’ve been honest from the start – this is going to be a marathon, not a sprint.

“I am working hard to identify more brownfield sites across London that we can use to build the thousands of genuinely affordable homes London so desperately needs.

“This site in Walthamstow shows the benefit of City Hall taking a greater role unlocking and bringing forward land for development – working closely with housing associations like Catalyst to deliver a scheme that is 100 per cent affordable for Londoners struggling to buy a home.”

The GLA worked with Waltham Forest Council to purchase the estate in July last year after plans to build a free school on the site fell through.

East London and West Essex Guardian Series:

The development would contain more than 300 homes

The project comes as the mayor prepares to set out plans for City Hall to intervene more in land decisions across the capital, due to published in the draft London Housing Strategy next month.

A portion of the homes will also be available for “shared ownership”, one of Mr Khan’s favoured housing schemes under his £3.15bn government-funded Affordable Homes Programme.

Shared ownership homes allow a home buyer to purchase a share in a new home, and pay a regulated rent on the remaining, unsold share.

Cllr Clare Coghill, the Leader of Waltham Forest Council, said: “We are really pleased that the first site of 100 per cent affordable London housing, will be found in Waltham Forest, regenerating an old disused factory.

“We fully support the Mayor’s affordable homes ambition and we are committed to making sure our residents have access to these homes. This is a great step forward to helping meet this need.

“At the same time, we want to grow the local economy and create jobs and opportunity, so the additional creative hub provides much needed space for businesses, artists and residents. It is a win-win situation for all.”