Enfield Council announced last night that its £6 billion Meridian Water scheme will move a step nearer to development, due to its decision — in principle and subject to call-in — to no longer work with a single master developer.
Instead, the council will tie-up with multiple partners for the first three phases of the project. It will now take the lead responsibility for setting strategies, working up the masterplan and deciding the optimal phasing plan for delivery.
The announcement comes following the council's cabinet meeting on Wednesday night (25 July).
The first three sites are already identified: two housing sites for around 1,000 homes which will come forward immediately through the Greater London Authority’s (GLA) London Development Panel and one employment site for about 900 new jobs.
Work will be agreed to progress the bid for £120 million of government funding through the Housing Infrastructure Fund. Enfield has already been shortlisted for this money as part of the GLA’s bid which, if secured in full, will connect all parts of Meridian Water to the new train station and improve the frequency of train services.
Last November, work began on the new Meridian Water railway station, being built by Network Rail. Set to open in 2019, the station will replace the nearby Angel Road station and will serve up to four million people a year.
Earlier this month (July), the local authority had confirmed that Hong Kong-based Pacific Century Premium Developments had pulled out of the scheme eight months after the council parted ways with Barratt London and SEGRO in October 2017.
Council leader Nesil Caliskan suggested that taking on the scheme could be a model for other authorities to follow to secure maximum benefits for local people.
She said: “Meridian Water is back on track and the way we are delivering is genuinely new for a local authority.
“Going forward we will be in control and we will be the custodians of the place Meridian Water will become; investing council money and resources to ensure that local people are the principle beneficiaries of the new homes and jobs that will be created.
“We will select development and other partners to work with the council to bring forward specific parts of the regeneration, whether that is for housing delivery, new employment spaces or meanwhile uses, and we will hold the vision for Meridian Water and oversee its delivery.
“I am pleased to say that we are also ready to accelerate delivery and will bring forward the first housing site, which will see hundreds of private and affordable homes built around the new train station. A second housing site and a site for a major employment hub will then follow.”
Meridian Water is of the UK’s largest regeneration schemes, with over 10,000 new homes planned, as well as the creation of thousands of new jobs at the 85-ha site.
International law firm Trowers & Hamlins is to continue as main legal advisor to Enfield Council on its flagship £6bn Meridian Water…