Barnet (Parliament Politics Magazine) – Barnet Council considers plan for 1,500 new homes in Finchley, backed by City Hall, raising hopes for affordable housing and growth in the North London suburb.
The tallest of the 20 buildings that would make up the proposed development at Great North Leisure Park would be 25 stories high. It would also have a brand-new recreation center.
The council-owned Finchley Lido Leisure Centre and the existing leisure park, which is situated just off the North Circular road, would be demolished to make room for the new construction. The park also has a bowling alley, eateries, and a Vue movie theatre.
With a deadline of April 28, Barnet Council will make a decision on the plan sometime in the upcoming weeks.
According to the developer Regal’s plans, 1,502 additional residences would be built in total, along with the “re-provision” of a new sports pavilion and leisure center. There would be about 2,590 square meters of retail space on the ground floor.
Only 23% of the houses, measured by the number of habitable rooms, would be considered “affordable,” with 130 being offered for shared ownership and 195 being available for social rent. It is suggested that the 1,177 remaining residences be sold at market prices.
Mayor Sir Sadiq Khan typically mandates that at least 35% of properties, measured by usable rooms, be categorized as affordable for significant developments in London.
If the development is on public land, this requirement must be met by at least 50% of the properties. According to City Hall, a threshold of roughly 40% has been agreed upon with the developer because Great North Leisure Park encompasses both public and private land.
However, a feasibility study that Regal commissioned and that was conducted by the consulting firm DS2 found that the project would cost over half a billion pounds to build, with the new recreation center alone costing almost £46 million.
Regal had made a “commercial decision” to supply 23% affordable housing, despite the assessment’s modeling showing that “even with zero affordable housing, the residual profit return, while positive, does not reach a viable level.”
According to a project report from Sir Sadiq’s office, City Hall employees are “robustly interrogating” this viability evaluation to determine whether more affordable housing may be incorporated and to test its veracity.
According to the mayor’s report, while the development is generally “supported in principle,” it does not yet “fully comply” with the London Plan, which outlines the future development of the capital.
The report stated that “more information” is required regarding the scheme’s environmental impact and suggestions for sustainable drainage.
A “financial contribution towards upgrades in bus capacity would also need to be secured” by the council through a formal agreement, it was said in remarks regarding the project’s transportation requirements.
The London, Essex, and Herordshire Amphibian and Reptile Trust is one of the groups opposing the plans.
“The scale and proximity of the proposed development would be extremely likely to impact negatively on the presence of a high status population of the internationally protected great crested newt Triturus cristatus on the adjacent Glebelands Local Nature Reserve,”
the Trust cautioned in a letter to the Barnet council.
What is the context on Housing developments in Barnet?
A major renovation of North Finchley Town Centre has been suggested by Regal London in collaboration with Joseph Partners. This entails constructing 1,100 additional residences on four lots in addition to business establishments and enhancements to the public area. The project intends to offer much-needed housing and boost the local economy.
In terms of housing delivery, Barnet Council has set high goals, hoping to build about 26,000 new dwellings by 2025–2026. This entails concentrating development in neighborhoods such as Mill Hill East, Colindale, and Brent Cross/Cricklewood.
Despite early reservations about affordable housing and building height, Barnet Council has approved amended proposals for housing developments in other areas of the borough, such as High Barnet, where a design for 113 homes was approved.