Grahame Park, Barnet – Genesis Housing Association
Urban Delivery was appointed by the London Borough of Barnet to provide financial viability advice to support the identification of an alternative master plan for the Grahame Park Estate in Colindale.
A master plan for the regeneration of the Grahame Park Estate was prepared by Genesis and approved in 2004 and included the demolition of 1,300 existing homes and the construction of almost 3,000 new residential units providing a total of 3,440 units on the estate and reflecting a net increase of over 1,660 additional dwellings. While the first phase of development has now been completed and contractors are on site with the next phase, it became apparent that the approved master plan and proposed mix of tenures and home types in future phases was no longer economically viable.
As part of a multi-disciplinary team Urban Delivery was instructed to help identify a solution to improve viability. This work was underpinned by robust residential property market advice and detailed financial viability assessments.
The work that was undertaken resulted in the preparation of an alternative master plan that provided a greater mix of family homes and road configurations that would help achieve greater connectivity between the estate and surrounding areas while ensuring that a sufficient number of affordable homes were delivered to meet the Council’s housing targets.
Urban Delivery has subsequently been working with Genesis to secure additional funding for the proposed development, made available by the government in 2014. Funds administered by the HCA and the GLA are aimed at speeding up the delivery of housing projects across London to enable new private and affordable homes to be created at an optimum rate to meet known demand.