Morden Regeneration – New Funding Allocation Announced
11th December 2019
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In November, Future Merton the team behind the regeneration of Morden town Centre, announced to cabinet:
the council has been successful in receiving an allocation of £54.5m from the Greater London Authority’s (GLA) Land Fund to assist with the assembly of land within Morden town centre.
This is great news. But residents who have lived in the area for some time may feel that they have heard something similar before. In 2016 the council announced:
Morden is also now one of the Mayor of London’s Housing Zones, where £42m has been allocated for developers to access, subject to legal and financial due diligence. The funding from the Mayor will help kick-start development sites in the town centre.
But as the Council rightly stress, this is a hugely complex project that required the Council and TFL to form a Joint Venture Partnership (with all its legal implications) to be able to deliver the regeneration.
From a private developers point of view, this makes Morden Regeneration a much more attractive option as they will deal with one body rather than a ‘committee’ of decision-makers.