Leading property developer Lendlease has been confirmed as the preferred partner for the Haringey Development Vehicle (HDV), which will see thousands of new homes and jobs created across the London Borough of Haringey (UK).

The HDV will be a 50/50 partnership taking on scores of sites across Haringey. Haringey and Lendlease will now enter into discussions about how the regeneration partnership will operate and be managed, before a final decision on whether to proceed with the HDV is made by the council in the summer. 

The £2 billion (US$2.4 billion) regeneration programme will create at least 5,000 new homes, a new town centre and thousands more jobs over the next 15-20 years.

The first phase will focus on the massive potential for regeneration in Wood Green and Tottenham. Haringey Council’s ambitious regeneration plans for Tottenham are already seeing more than £1 billion of public and private backing transform the area, with opportunities to deliver 10,000 new homes by 2025. In Wood Green, proposals for significant redevelopment could bring 6,000 new homes.

Cllr Alan Strickland, Haringey Council Cabinet Member for Housing, Regeneration and Planning said:

“Confirming Lendlease as our preferred partner is a major step forward for our plans to deliver homes, jobs and opportunities for local people. A 50:50 partnership approach means we stay in control over how council land is developed while sharing the profits, which can go back into further regeneration, affordable housing and funding the services we provide to residents. We now look forward to working with Lendlease over the coming months to work out the details of the partnership.”