Lovell has formed a joint venture with Barnet Council to deliver the north east part of the Grahame Park Estate regeneration project.
The partnership will oversee the creation of new homes for affordable rent, shared ownership and market sale, in addition to new community facilities.
The project will be managed by Barnet Homes, the arms-length management organisation responsible for the management of council homes in Barnet. Barnet Homes will also manage the homes built for affordable rent.
Ross Houston, deputy leader and cabinet member for homes and regeneration at Barnet Council, said: “In Barnet we care for our people and our places, and this redevelopment will help deliver much-needed housing and particularly homes for social rent in the borough. There is a national homelessness crisis and in Barnet there are currently 2,700 households residents currently in costly temporary accommodation.
“By investing in projects such as this, we are investing to save in the future, while also helping create job opportunities and improving our services. Working together with communities, local residents and our partners, we are ensuring Barnet remains a great place to live, work, and thrive.”
Mary Parsons, regeneration and partnerships director at Lovell, added: “Lovell is delighted to selected by Barnet Council as its joint venture partner for the regeneration of the north east of Grahame Park. It is not only the delivery of much needed new homes at scale and pace within an already ambitious regeneration programme, but the chance to work with the local community, partners and groups to ensure we create real opportunities for education, employment and local enterprise.
“We know that we will only achieve this through genuine partnership working, and we are looking forward to working closely with colleagues from Barnet Council, Barnet Homes and the wider team to make it happen.”
Elliott Sweetman, interim CEO of The Barnet Group, said: “The residents of Grahame Park have been waiting for the regeneration of the estate to progress at pace and scale and The Barnet Group, through Barnet Homes, are delighted to have brought forward and to be delivering this important scheme on behalf of the London Borough of Barnet.
“High quality homes at social rent levels have never been needed more given the scale of the housing crisis affecting London and these new homes will deliver just that, along with a whole range of wider benefits to the local community.”
