The Mayor of London Boris Johnson will launch the Old Oak and Park Royal Development Corporation (OPDC).
The Corporation will lead the regeneration of Old Oak Common in West London and will seek deliver up to 24,000 homes and more than 55,000 jobs.
A High Speed 2 (HS2) and Crossrail Station is due to be constructed at Old Oak Common by 2026. The new station will be the size of Waterloo, handling 250,000 passengers a day and acting as a super hub between London and the rest of the UK, Europe and the world.
The OPDC will work to maximise the regeneration potential of the new stations. The Corporation has the support of Government and full planning powers across the entire site straddling the boroughs of Hammersmith & Fulham, Brent and Ealing.
As well as promoting and delivering physical, social, economic and environmental regeneration at Old Oak Common, the Corporation will also safeguard and develop Park Royal as a strategic industrial location and attract long-term investment to the area, including from overseas.
The OPDC will hold its first board meeting at City Hall. It is chaired by the Mayor of London Boris Johnson, with Deputy Mayor for Planning Sir Edward Lister appointed Vice Chair.