BORIS Johnson is planning a new agency to revive the area around Old Oak Common, where the High Speed 2 and Crossrail routes will converge.
The Mayor of London will set up a development corporation, similar to those used to regenerate the areas around the Olympic venues and foster growth at Canary Wharf in the 1980s.
Old Oak Common, currently known for its railway depots and proximity to Wormwood Scrubs prison, will become one of Britain’s busiest rail thoroughfares once Crossrail and HS2 are both open in 2026.
City Hall hopes to spur private sector property developers into turning the area into a business hub.
A full plan for the development corporation is expected to be laid out next month, when the Mayor hosts a get-together of HS2 executives.
A bill that will provide planning permission for the London to Birmingham section of the route was put before parliament on Monday, kicking off several years of political fighting over the details of the £42.6bn project.