Councillor Richard Cornelius, Leader of Barnet Council, has welcomed budget announcements that support the two largest regeneration projects in the borough.
The Chancellor of the Exchequer confirmed that he will be working with the GLA and Barnet Council to support proposals for the Brent Cross Regeneration scheme. He also announced a fund to support the rebuilding of large regeneration estates, citing the Grahame Park Estate in the north of the Borough as a potential beneficiary.
Cllr Cornelius said; “We have made the case that with further government support we can secure thousands of new homes at Brent Cross and bring forward the demolition and replacement of the Grahame Park Estate. We have this support. Now it is up to us to deliver.”
“Treasury support for a new station at Brent Cross funded through financing proposals based on business rate uplift will be a huge boost to that project.”
Another budget announcement was of a £150 million fund to support the regeneration of housing estates. This has been welcomed by the parties involved in the regeneration of Grahame Park in Colindale.
The fund provides loans to speed up the regeneration of major estates. Barnet Council estimates that this could bring the demolition of the central concourse block in Grahame Park forward by at least three years.
Councillor Cornelius said: “The very worst part of the estate has not yet been touched. Removing the concourse block will transform the area. This funding potentially brings us closer to bulldozers on the ground, removing that block and building new homes for the residents.”
John Carleton, Executive Director, Markets & Portfolio at Genesis Housing Association said: “This funding enables the momentum we have already generated at Grahame Park to positively continue.”