The proposal to build the new homes focus on utilising "underused spaces" around the borough that are vacant or problematic for large-scale development, such as garage spaces, the Council said.
The first proposed site for new homes to be built is at the former Borough and Bankside housing office site on Long Lane in south east London. The Council plans to run a consultation on proposals to build up to 30 new homes after a report is submitted to the Council’s cabinet, which is planned for July.
"We are absolutely committed to delivering more high quality, genuinely affordable council homes for Southwark, which is why we have ambitious plans to build 1,000 in Southwark by 2020. Over the past year we have already delivered 600 affordable homes in Southwark, but no one else is talking about building council homes on this scale," said Councillor Peter John.
The Council plans to fund and manage the new homes internally, which it said would allow it greater control over rent levels and management. It could also allow the Council to let the homes to local residents in "priority need".
"It makes economic sense to use the returns from our successful regeneration and development projects to invest in council housing," said Councillor John. "This will provide a secure and sustainable answer to the problem of an ever-rising housing waiting list. It will also mean we can avoid a situation where Southwark residents have to move out of the borough to find an affordable property."
The Council also said it is looking at opportunities for further investment in existing stock announced in the new National Planning Policy Framework.
