The London Borough of Enfield has appointed Lovell to a £50m contract to redevelop a site in Ponders End.
The site, which has been named the Electric Quarter, will comprise approximately 160 homes for open market sale and 88 homes for affordable and intermediate rent, as well as the creation of 1,050 sq m of non-residential space.
The redevelopment will include the creation of new small-scale retail units and a new home for Ponders End Library on the High Street.
Lovell will aim to draw at least 30 per cent of its construction workers from the local area.
Subject to the proposals completing the full planning and public consultation process, construction work on the redevelopment programme is set to start in 2015.
Lovell regional director Peter Taylor said: “It is exciting to bring our expertise in delivering large-scale, complex urban regeneration programmes to this major mixed-use project for Ponders End.”
“Delivering much-needed high-quality open market and affordable homes, alongside new retail, community and commercial space, the scheme will make an important contribution to the ongoing regeneration of the area.”
Cllr Alan Sitkin, Enfield Council’s cabinet member for economic development, said: “This scheme will help to provide work and training for local people and will make Ponders End an even more attractive local shopping centre.”
“We also need the private sector to build more homes across Enfield, so it is really encouraging to see that we are moving towards the provision of an appropriate mix of more new homes for local people in Ponders End High Street.”