The proposed redevelopment of Great North Leisure Park in Finchley plans to introduce 20 new buildings, including a leisure center and a 25-storey tower, replacing existing facilities like the Vue cinema and Finchley Lido. The developer, Regal, will offer 1,502 homes, but only 23% will be affordable, significantly falling short of London’s Mayor's guidelines. A viability assessment revealed construction costs exceeding half a billion pounds, and although the return seemed low even without affordable housing, Regal decided to include a modest amount at social rent and shared ownership.
The development at Great North Leisure Park will feature 20 buildings, including a 25-storey tower and a new leisure centre, replacing existing facilities.
Only 23% of the new homes will be affordable, significantly below the Mayor's threshold, raising concerns over the project’s viability and community impact.
Regal's development plan, despite its high costs of over half a billion pounds, includes a limited amount of affordable housing, provoking scrutiny from local authority.
The viability assessment indicated that even without affordable housing, the profits were insufficient; nevertheless, Regal opted to include only 23% affordable units.
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