London: £500m borrowing guarantee for Tottenham redevelopment

source: 24dash.com

London: £500m borrowing guarantee for Tottenham redevelopment Haringey Council received governmental financial guarantees of up to £500 million, pushing forward the redevelopment of the Tottenham district, part of which is the new stadium for Hotspur.

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The government has allowed Haringey Council a £500 million borrowing guarantee to put towards the regeneration of Tottenham.

The deal means the council, the Greater London Authority and private sector have the financial security to transform Tottenham with thousands of new homes, better transport links, leisure facilities and business workspace.

Redevelopment plans for Tottenham district include new stadium for Hotspur, which will be an improvement to the community itself on one hand and on the other – will be served by improved transport links, benefitting from public spending.

StadiumDB.com understands that only a small portion of the potential borrowing guaranteed by the government may be directly connected to the stadium project, but the overall regeneration of Tottenham is inseparably linked with the stadium project.

280 new homes are planned around the new 56,000-seater and despite this number being much less than initially planned 450, it will still be a major contribution to the area, with the district's largest supermarket already under construction near White Hart Lane.

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