Lendlease to be recommended as partner for Haringey’s ambitious regeneration plans
- For the most up to date information on the Haringey Development Vehicle please visit our dedicated HDV page.
Haringey Council has today published a report that, if approved, takes it one step closer to delivering thousands of new jobs and at least 5,000 new homes on Council land across the borough. Haringey’s Cabinet will decide on 14th February 2017 whether Lendlease should be the Council’s preferred partner for the Haringey Development Vehicle (HDV), which would lead one of the UK’s largest regeneration programmes.
This is the latest stage of Haringey’s search for a joint venture partner to deliver new homes and new jobs on Council-owned land, through town centre regeneration and housing estate renewal across the borough. The Haringey Development Vehicle will be a 50:50 long-term partnership which will transform the borough over the next two decades.
The proposed decision follows a robust procurement process which has been carried out since the business case for the joint venture was agreed by the Council in November 2015. The recommended preferred bidder was selected on the basis that Lendlease received the highest overall score across all of the relevant criteria.
The HDV’s development programme will play a critical part in the delivering the Council’s broader vision for growth and prosperity in the borough, alongside major transport improvements through Crossrail 2 and by the Council’s wider regeneration programmes in Tottenham and Wood Green which are driving billions of pounds worth of public and private investment. The HDV will also contribute to the Council’s wider ambitions to improve the health, wellbeing and prospects of Haringey residents, including by providing new facilities such as health centres and schools, and by helping people of all ages to take advantage of job opportunities in the borough and beyond.
Haringey Council Leader, Cllr Claire Kober said:
"Growth is at the heart of our ambitions for Haringey and we aim to create thousands of new houses and jobs to give Haringey residents the opportunity to prosper and to enjoy their own home. Approving Lendlease as the preferred bidder for the project is a critical and exciting step towards delivering the jobs and homes that Haringey needs."
"We’ve chosen this joint venture approach to keep the Council and local people firmly at the heart of our plans for growth. This 50:50 partnership ensures the Council is involved in all decisions and crucially can ensure that a share of the profits goes back into other regeneration initiatives, affordable housing and funding the services we provide to residents."
If the decision to appoint Lendlease is approved by Haringey’s Cabinet, the Council will enter into discussions with the preferred bidder on how the joint venture should be established and managed. A final decision on whether to establish the Haringey Development Vehicle is expected to be made by Haringey Council’s Cabinet in the summer of 2017.
See the November 2015 Cabinet report which sets out the business case for the HDV
The HDV will allow Haringey to take forward regeneration plans that have been discussed with residents in Northumberland Park and Wood Green for several years. Before any land is transferred into the Haringey Development Vehicle for development, it will be individually assessed and is subject to Haringey Council Cabinet approval based on detailed business planning, local consultation and eventually a planning application.
The development sites proposed for the first phase of the Haringey Development Vehicle’s work are the former Cranwood care home in Muswell Hill; the Council’s Civic Centre, Station Road offices and Library in Wood Green; and the Northumberland Park regeneration area.
It is also proposed that the Council’s commercial property portfolio will transfer to the Haringey Development Vehicle, again subject to Cabinet approving a business plan for the portfolio’s future management.
Haringey Council has made a commitment to do its utmost to rehouse any existing council tenant currently in a home proposed for redevelopment who wants to stay in a new home in the same area, at the same rent and terms, as it already has on other estates across the borough. If the HDV is agreed by the Council, there will be extensive consultation with all residents and businesses directly affected by the proposals, to ensure both that they help shape the plans and that they understand their rights and options as those plans are implemented.