London's Tube Stations Will Be Turned Into Homes And Offices

London's Tube Stations Will Be Turned Into Homes And Offices

According to Britain publication The Telegraph, the company Transport for London (TfL) plans to transform London's 50 tube stops, bus stations and adjacent buildings into tourist attractions, luxury penthouse apartments, homes, offices and shops.

The revenue raised (US$ 5.1 billion) from the highly anticipated project, which will transform underground stations into profit generating businesses, will help to upgrade the capital's creaking transport infrastructure and cater for London's rapidly expanding population.

The Mayor of London, Boris Johnson, claimed the 10-year redevelopment project which will unlock revenues from Transport for London assets, will also help reduce the increase in travel fares for commuters and tourists.

"London's population is set to grow from 8.4 million today to 10 million by 2030," said Graeme Craig, TfL's director of commercial development. "London needs more homes and office spaces and the transport network needs sustained, long-term investment."

On February 2 the organization launched a one-year tender process to appoint a small number of property development partners to work on the overall collection of sites which cover 92 thousand square meter of land.