New planning consent has been granted for a major regeneration project at Brent Cross Cricklewood in north London.
Barnet Council approved plans from Hammerson and Standard Life Investments, the Brent Cross Cricklewood development partners, to build a new town centre with 7,500 homes, 27,000 jobs, community facilities and parks.
The first phase alone will involve an investment of £250m.
Plans include a £5.6m upgrade of Clitterhouse Playing Fields, with two further parks to be created, while Brent Cross Shopping Centre, owned by Hammerson and Standard Life, will be transformed with new retail, dining and leisure facilities.
This will form part of the first phase, which will also comprise a new pedestrian and cycle bridge over the North Circular road, the first time the two communities on either side of the road have been connected in this way.
Other elements of the regeneration plan include: three new schools; a new cinema, leisure centre and health centre; an additional train station on the Midland Mainline; a new larger bus station at Brent Cross; upgrades to Brent Cross Underground station and Cricklewood train station; and improvements to Claremont Park.
The Brent Cross Cricklewood development partners will now engage with the local community with an aim to begin construction in early 2016.
Mayor of London Boris Johnson said: “This is a landmark moment as we look to transform Brent Cross Cricklewood into one of the premier places to live, work and visit in the capital.
“London’s population is set to soar to 10m by 2030 and this scheme is absolutely crucial to the city’s sustainable growth, as it has the capacity to deliver thousands of new homes and jobs through major improvements to transport infrastructure.
“We have been working closely with Barnet Council to secure investment in a new Thameslink station at Cricklewood that will bring the area within 12 minutes of central London and are also looking to create a pleasant environment in which to walk or cycle.
“I look forward to seeing this vitally important part of London transformed over the coming years.”
Hammerson development director Mike McGuinness said: “This is a major milestone for a scheme that is integral to London’s future growth and we are excited to move ahead with the first phase, which will include the transformation of Brent Cross Shopping Centre and £250m-worth of crucial road and transport improvements that are key to unlocking the area’s potential.”