The Bakerloo line extension receives new funding alongside exciting plans for a theatre and workspace in Southwark
London: The Bakerloo line extension is getting a nice funding boost! Southwark Council has set aside nearly £4 million for some cool new projects. This includes a new LGBTQ+ space at Bankside Yards and important work for the Bakerloo Line extension itself.
They’re planning to open this new development in 2026, and it’s going to have a theatre and workspace. It’ll be built where the old XXL club used to be before it closed in September 2019.
On top of that, Southwark Council is also putting £2.4 million into a 100% affordable housing project at 634-636 Old Kent Road. Since this site is right above the planned Bakerloo Line extension tunnel, the funding will help with extra engineering to keep things quiet and steady.
Cllr Helen Dennis, who’s in charge of new homes and sustainable development, said these projects will really help the community. She mentioned how the new LGBTQ+ space will be a big win for the local community.
She also emphasized the importance of making sure that both the affordable housing and the Bakerloo Line extension can move forward. It’s all about reinvesting money from developers back into the community to make life better for everyone in Southwark.
The funding was approved earlier this month and comes from the Community Infrastructure Levy. For the Bakerloo Line extension, Transport for London hopes to have trains running past Elephant and Castle by 2040. If everything goes well, the extension will eventually reach New Cross Gate and Lewisham, and later on to Hayes and Beckenham Junction.
Right now, the project is on hold while TfL seeks more funding from the government. They estimate that the core extension alone could cost between £5.2 billion and £8.7 billion, based on 2021 figures.
Stay in the loop with the latest South London news by signing up for the MySouthLondon newsletter!
