Camden (Parliament Politics Magazine) – Camden Council is calling for an urban development corporation to oversee Euston’s regeneration, arguing it would provide clearer leadership and long-term planning.
In order to establish an urban development corporation, the council will collaborate closely with the mayor of London and the leader of Camden Council.
These organizations, which have the capacity to buy land, build infrastructure, and serve as the local planning authority, were established to revitalize a particular area. They have been utilized in places including Cardiff Bay, Canary Wharf, and Liverpool’s Royal Albert Docks.
According to council leader Cllr Richard Olszewski, this would be “a game-changer” for Euston.
The council claims that independent study indicates that Euston’s rehabilitation may result in up to 2,500 new houses, £41 billion for the country’s economy by 2053, and 34,000 new employment.
Cllr Olszewski said:
“The regeneration of Euston is a once-in-century opportunity to deliver huge economic growth for Britain that will translate into thousands of jobs for our residents here in Camden and across London.
It will add billions to our national economy, deliver much-needed affordable homes for London and bring life-changing opportunities for our residents.”
Euston is scheduled to be the London terminal of HS2 after much doubt, and the area surrounding the station is expected to see significant development.
A few weeks prior to the council’s declaration, the government announced that work on the HS2 tunnel between Old Oak Common station to Euston station would soon begin.
The construction of the HS2 tunnel to Euston is anticipated to begin in the spring of 2026 and take about eighteen months, during which time the machines will run around the clock.
The station itself will also be rebuilt for HS2, but only six new platforms will be added instead of the ten that were originally intended. What can be constructed and where will probably depend on the final design.
Cllr Olszewski added:
“We have always been invested in Euston as it is the heart of our borough and as HS2 proposals developed, we were clear that the eventual development has to deliver for communities, for London and for national objectives.”
The Mayor of London, Sadiq Khan, said:
“Euston is a once in a generation opportunity to transform a key central London area, creating a new gateway to our city, which will bring in tens of millions of people into London each year and vital high-quality jobs and homes.
We are continuing to work closely with Camden Council, government and partners to support the Council’s proposals to launch a new locally led development corporation. This will help to drive forward the area’s transformation and generate billions of pounds for the UK economy, all of which is essential to our mission to build a better, fairer, more prosperous London for all.”
What powers would a locally led development corporation have in Camden?
The LLDC would hold planning authority within its area, enabling faster decision-making aligned with original and public precedents. This would streamline approvals for casing, marketable, and structure developments.
The corporation could oversee land assembly, structure delivery, and manage backing aqueducts, potentially including business rates retention, inventor benefactions, and government subventions to support rejuvenescence systems. It would play a central part in shaping development exertion across the Euston area, icing alignment with community precedences and wider profitable pretensions, involving transparent governance with community and youth representation.
The corporation would be overseen by Camden Council with an independent expert board, icing that opinions reflect original knowledge, community input, and regeneration expertise.
