Investment will fund transport and road and environmental improvements
Developers of the Brent Cross and Cricklewood regeneration scheme are to provide almost £1bn in s106 agreements.
The investment from developers including Hammerson, Standard Life and Brookfield Europe, will fund a host of improvements in the area including £500m on transport, £189m on environmental measures and £200m in road improvements.
An additional £109m will be spent on community infrastructure, including new health facilities and three local schools.
The area will also benefit from a new train station on the Midland Mainline, a new bus station, new bridges and cycling routes, new facilities for Clitterhouse playing fields in addition to the new town centre for north-west London.
It is thought to be the largest-ever community benefits package from a single planning application.
The £4.5bn regeneration scheme will cover 151 acres and take 20 years, providing 27,000 jobs and 7,500 homes when completed. The redevelopment of Brent Cross shopping centre is key to the scheme.
Barnet council will consider the plans on 23 September.