The government last week released the order signed by Chris Grayling for the Barking Riverside extension which would add 4km to the Gospel Oak to Barking line, taking it from Barking to a new station at Barking Riverside.
The order and deemed planning permission authorises the construction and operation of the railway extension, including compulsory purchase where necessary.
According to the independent report upon which the decision was made, the extension could allow for the construction of 10,800 homes in the brownfield Barking Riverside area, half of which will be affordable. The work is also expected to provide 4,600 jobs.
The report sates: “The anticipated outturn cost is £263m including inflation assuming construction starts in the financial year 2017-18 and is completed in 2021.
“This sum is to be funded by a £172m contribution from Barking Riverside Limited (BRL) and £91m from TfL’s business plan that is committed in order to secure the joint funding with BRL.”