Barnet Council has welcomed the announcement that it is set to receive a £56million boost to bring the development of one of its major regeneration schemes forward.
The Grahame Park estate in Colindale has been awarded the full £56 million that it bid for from a £150million government programme which provides loan funding to speed up the regeneration of major estates.
Welcoming the announcement, Barnet Council’s Leader, Councillor Richard Cornelius, said: “This is an important step forward in transforming Grahame Park and the lives of its residents. It is a demonstration that central government recognises that Barnet is in a position to deliver these projects. The regeneration of these 60 and 70’s estates, and their replacement with decent homes and a better environment are a priority for this council. This keeps the project on track and moving forward.”
The Grahame Park regeneration scheme, once complete, will provide 3,000 new homes in the borough. The regeneration project is led by Genesis in partnership with Barnet Council and Countryside Properties.
The £56million funding will help to bring the redevelopment of Grahame Park’s central concourse block forward by three years.
Councillor Cornelius added: “We have long felt providing residents with housing and removing the concourse block is the key to developing Grahame Park. This announcement brings that day closer.”