The Mayor has invited developers, local authorities, charities and private organisations to submit bids for the funding which will be used to deliver affordable homes to own or rent. Construction for schemes funded through the programme must be started by March 2015.
The Mayor said in a statement that he was also interested to hear from organisations wanting to bring empty properties or under-used commercial units back into use as affordable homes or to help boroughs within the capital tackling homelessness.
The fund is in addition to the £100m Housing Covenant fund, which the Mayor launched in September last year, and is aimed at safeguarding the capital's competitiveness by improving housing and boosting construction jobs.
“This latest tranche of cash is another fantastic opportunity for housing providers in the capital to deliver the homes that this city desperately needs," said the Mayor in a statement.
"Whether it’s for affordable homes to own, or to make better use of properties that lie empty or under-used, the fund will help working Londoners across the capital and create valuable jobs in construction,” he said.
The fund will be open for bids until 30 April.
