The Mayor of London has announced details of two projects in North London that are in line to receive a share of a £40 million fund allocated for transport schemes which aims to support regeneration and create jobs.
This follows a recommendation today by the London Enterprise Panel (LEP) of which projects bidding for investment are best placed to boost the city’s economy. The schemes backed by the LEP are in areas where ambitious regeneration plans are in place and where transport infrastructure will help unlock significant economic growth.
Two of the four are in North London, with the largest the result of an NLSA bid.
These schemes would deliver improved rail links between Tottenham Hale and the Upper Lee Valley, and an upgrade of Angel Road station in Enfield.
The largest award was the £25 m allocated for rail upgrades providing extra services at Northumberland Park and Tottenham Hale, improving rail links between Stratford, the Upper Lee Valley and beyond including Stansted Airport. This investment aims to provide extra rail services – up to 4 trains per hour – from Angel Road and Northumberland Park stations via Tottenham Hale and a re-opened Lea Bridge station to Stratford. It would be part of a £72 million West Anglia upgrade project including £44 million from Network Rail – subject to the outcome of a submission for the next Control Period – and up to £3 m from Transport for London. The investment should ensure that the full scheme and related benefits can be delivered, including the provision of a new track between Lea Bridge station and Angel Road. It aims to support the development of around 15,700 new homes, 21,900 new jobs in the Lee Valley and up to 15,000 jobs in adjoining areas.
A second award of £2.5m was allocated to upgrade Angel Road station following a bid from Enfield Council. The LEP judged that Angel Road station is vital to the regeneration of Enfield and specifically to support the Meridian Water development and regeneration in the Lower Lea Valley more widely. The station improvements will increase passenger capacity through an enhanced commuter rail service, which the LEP believes could unlock 2,326 jobs across over 55,000m2 of employment land and over 2500 homes.
The proposals will now progress to a final stage, including more detailed work developing business cases, technical modelling and delivery mechanisms.
The Mayor of London, Boris Johnson, said: ‘Transport links are a vital precursor to economic development. This money is earmarked for investment into transport schemes which have significant potential to stimulate growth and job creation. I welcome the London Enterprise Panel’s assessment of which projects are best placed to do this and City Hall will now be working with the bid teams to progress these ambitious proposals.’
Kit Malthouse, Deputy Mayor for Business and Enterprise and co-chair of the London Enterprise Panel, said: ‘We’ve selected four ambitious projects that meet strong criteria in terms of their ability to support regeneration and create significant numbers of jobs. I am delighted to confirm this investment into infrastructure that will have a major impact for people in these areas.’
Harvey McGrath, co-chair of the London Enterprise Panel, said: ‘The London Enterprise Panel is working with the Mayor to catalyse opportunities for growth. These transport projects have been selected to do just that, stimulating and attracting private sector investment into areas of London that are ripe for development.’
John McGill, Director, London Stansted Cambridge Consortium & NLSA, said: “This will help to bring forward major regeneration in the Upper Lee and is a really important step towards full 4-tracking in the Upper Lee Valley”
Councillor Alan Strickland, cabinet member for regeneration at LB Haringey, said: “Increasing services to four trains an hour at Northumberland Park and Tottenham Hale is crucial to connect our residents to more job opportunities, and is central to our ambitions to make Tottenham a destination for London.”
The London Stansted Cambridge Consortium Conference is on June 11, in London. Infrastructure investment will be a key topic – with a focus on Stansted Airport, and the rail and road connections for the corridor. Kit Malthouse and Harvey McGrath are both among the speakers. You can still join the event – see the full programme, or book your place now!