Lendlease has said it hopes to meet with Haringey Council’s new leader as plans for its £2bn regeneration scheme in the borough face being abandoned.
A result has yet to be declared in Haringey in the local elections, but Labour is expected to maintain overall control.
In its manifesto last month, Haringey Labour Party said it would ditch the controversial Haringey Development Vehicle (HDV) if it won the election.
Labour’s tie-up with Lendlease has sparked party in-fighting amid claims that Jeremy Corbyn-support group Momentum had infiltrated the local party, leading to council leader Claire Kober resigning.
The scheme includes plans to regenerate Wood Green with 6,400 new homes and a new town centre. However as the proposals include bulldozing social housing, campaigners have claimed the move is “social cleansing”.
The scheme was approved last July, but faced a High Court legal challenge late last year.
In a statement to Construction News, Leadlease’s property managing director Jonathan Emery said: “We accept new councillors may have different views on some of the plans put forward and we look forward to meeting with the borough’s new leader and cabinet.
He added: “We want to listen and discuss how we can work together to best deliver their vision and create a positive and long-lasting impact for the people of Haringey.”
Under the arrangements of the deal, the council’s commercial portfolio – currently worth in the tens of millions - would have been transferred into the HDV, Lendlease said.
The HDV was a planned 50:50 partnership, requiring joint investment from both partners and a 50/50 split of the profits.
The outcome of the case is being seen as a possible turning point in the way that developers approach regeneration of London’s council estates.