Camden to lead major Euston area regeneration plan

"Management of the land around Euston Station is to be handed over to a Camden Council led development corporation to drive regeneration of the area. The council has agreed to set up a locally led urban development corporation (LLDC), which, subject to legislation permitting, will be able to assume a wide range of powers to drive redevelopment of the area. It's similar to how the London Legacy Development Corporation was created in 2012 to oversee the redevelopment of the Olympic park lands for housing."

"Once set up, the Euston LLDC would be able to manage planning applications, land assembly and compulsory purchase orders, direct delivery of housing, commercial and public realm, infrastructure delivery, and financing and funding powers. It would mean fewer direct powers for Camden Council, as they've been outsourced, but the council intends to maintain a presence on the LLDC's board of directors, so it can retain some oversight of decisions."

"They expect that it could drive the development of 2,500 new homes and support 34,000 jobs in the area. Although the LLDC would control the land around Euston station, the heart of the site would still be managed by the Euston Delivery Company, which is taking charge of the HS2 and Network Rail site development. That should simplify matters somewhat as each organisation focuses on their core remit, while also reducing the layers of bureaucracy where the two sit side by side."

Euston land management will be transferred to a Camden Council-led locally led urban development corporation (LLDC) empowered, subject to enabling legislation, to oversee planning, land assembly, compulsory purchase orders, housing delivery, commercial and public realm, infrastructure delivery, and financing. The LLDC model mirrors the London Legacy Development Corporation used for the Olympic Park. Camden Council will cede some direct powers while keeping board representation for oversight. Initial funding is expected from central government, with the LLDC aiming to become self-funding through property development. The plan could deliver about 2,500 homes and support 34,000 jobs, while HS2 and Network Rail works remain with the Euston Delivery Company and proposals are subject to public consultation and legislation.

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