Barnet Council and development partners Argent Related, Hammerson and Standard Life Investments have agreed a deal for a £4bn regeneration scheme in Brent Cross in outer London.
The project will create a town centre and 7,500 homes, redevelop the Brent Cross shopping centre, and include parks, community facilities and a Thameslink train station as well as road and transport improvements.
The leader of Barnet Council, Richard Cornelius, said: “I am sure that together we will be able to breathe new life into this area and create a thriving London neighbourhood that will be a model for the 21st century and beyond.”
Planning permission for the scheme was granted in 2010 and Argent Related was selected as the development partner for Brent Cross South last year.
In March, then chancellor George Osborne reconfirmed a £97m grant for development of the train station, which will also be part-funded through a business rates contribution from the Greater London Authority.
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