Proposed plans for the regeneration of the mixed-use development include 308 new homes, with provision for affordable housing and retail space. Under the plans two new 21-storey towers will also be situated at the Finsbury Park site.
“The combination of private and affordable homes, shops, restaurants and offices will bring new focus to Finsbury Park," said Jeffrey Adams, chief executive of United House.
The site is located on a trading estate next to Finsbury Park train station and underground, which is the busiest transport hub outside the London's tube zone one, the developer said.
It is hoped that the regeneration project will act as a catalyst for wider regeneration in the area. It is the largest regeneration scheme undertaken in Islington since the Arsenal Stadium project.
Under the proposals for the regeneration, 47 affordable homes will be built, along with 116,000 square feet of retail, restaurant leisure and office space.
“We are delighted to be working with United House on this project," said Jack Morris, chairman of City North Holdings. "They share our vision and values for City North in wanting to create a scheme for Finsbury Park which we, and the local community, can be proud of."
"It will bring much-needed new homes, business investment, employment and economic growth to what will become one of London’s most exciting and vibrant areas," he added.
The developers expect to start work on the site in the spring of 2013 and hope to complete the project in 2016.
