Croydon Council secured a £6million improvement package from developers Unibail-Rodamco-Westfield (URW) to help transform Croydon North West.
The new deal may finally push forward a transformation to the Whitgift Centre that has been rumoured for years.
The changes will focus on improving security, cleaning and the removal of the Wellesley Road subway which will be replaced with a surface-level crossing.
Executive Mayor of Croydon Jason Perry attended the cabinet meeting on 25 September to discuss the regeneration of the town centre that he has set out in the Mayor’s Business Plan.
Mayor Perry said: “Administration is tackling difficult problems head on.
“We have taken significant steps towards financial recovery and I remain confident that through ongoing efforts we will achieve a balanced budget by the end of 2024/25.
“We will continue to be open, honest and transparent as we navigate these difficult times.”
The cabinet meeting discussed the £6million package, but no date for the completion or opening start date has been set.
Croydon Council has faced many financial difficulties over the years.
They are currently £1.4billion in debt due to past mismanagement.
Despite this, the council assured it will spend more than £400 million in their 2024/25 budget and stressed overspending can be seen across the capital.
Mayor Perry addressed the council’s financial burden in the cabinet meeting.
He said: “Since taking office in May 2022, it has been clear that the financial challenges Croydon faces are deeply rooted in the state of council’s finances that I inherited.
“The unprecedented £1.4billion of general fund-debt burden, which costs £60million annually has compounded the already significant challenges.
“However, my administration is committed to being transparent and rigorously bringing the budget back in line addressing both historical and financial issues.”
Talks of the redevelopment of the Whitgift & Centrale shopping centre with URW has been rumoured for more than a decade, without any practical changes or implementations.
Croydon’s residents have grown significantly tired of the constant push back.
Initial talks of Westfield’s redevelopment of Croydon began in 2012 when Whitgift Centre partnered with Hammerson, a British property developer.
The project planned to create a new retail complex, promising to create thousands of jobs to help boost the economy.
However, due to the complexity of retail partnerships with the impacts of Brexit and Covid-19 the deal was postponed.
The Mayor acknowledged the long delay but is determined to push it forward now with what he described as a promising new partnership with URW.
The agreement with URW will be delivered with funding payments to the Council to compensate for the delay.
The new funding proposes: changes to North End Quarter, the re-opening of Croydon’s historical department Allders, public engagement and a level crossing across Wellesley Road.
The Croydon Urban Room will provide space to talk about Croydon’s future.
They wish to engage the public with various exhibitions and events, as recovering the town centre begins anew.
Although the council did not comment explicitly on the sudden arrival of a new financial budget, it was agreed the plan will go forward.
Featured image: Kasia Flisiuk
