Deal with council formally approved last night
Some 6,400 new homes will be delivered through Haringey’s £2bn partnership with Lendlease, at least 40% of them affordable, the council said after its cabinet rubber-stamped the deal last night.
The developer was picked to work with the north London local authority in March for a vast regeneration programme which also includes improvements to community facilities and public spaces.
The Haringey Development Vehicle is a 50:50 partnership between the council and Lendlease. It will deliver £2bn of new development – measured in 2015 prices – over the next 15-20 years.
Projects in the pipeline include the redevelopment of the Northumberland Park estate, Wood Green Library, the council offices in Wood Green (pictured), new school facilities and a new health centre.
Lendlease saw off rival bids from a pairing between Morgan Sindall and housing associations Affinity Sutton and Circle, and a third team comprising housing groups Pinnacle, Catalyst and US finance firm Starwood Capital.
Councillor Alan Strickland, cabinet member for regeneration and housing, said: “We’ve been clear that successful regeneration has to have the best interests of Haringey’s communities at its heart, and that we’re determined to help more Haringey residents live in quality homes in the borough.
“That’s why I’m delighted that the cabinet has approved this new development partnership, which will enable us to deliver the new homes, jobs and facilities that local people have made it clear they want to see.”