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URBAN DESIGN AND PARTICIPATORY APPROACH
URBAN DESIGN AND PARTICIPATORY APPROACH
• In London, local governments and the private developer redeveloping the King’s Cross rail yard stress the importance of
sharing the costs and benefits conferred, particularly around the newly integrated transit terminus.
• LCR has played a crucial role for the regeneration around King’s Cross. In 1996, as • Originally, HS1 was planned to be privately
a private consortium, LCR was selected by the UK Government to build and operate financed, owned, and operated, but there was
HS1, a high-speed rail link. One of the key objectives behind HS1 was to stimulate significant doubt about the project’s financial
regeneration in inner London and in particular around King’s Cross. viability. Consequently, as part of the financing
arrangements for the construction of HS1, the
• In 2001, LCR selected property developer Argent, one of the UK’s most respected Department of Transport (DfT) provided cash
property developers, was selected as a private development partner for the King’s grants, underwrote a bond issue, and provided
Cross regeneration program, given its rich experiences in regeneration and mixed property development rights around King’s Cross
use developments. and Stratford stations to LCR.
• With a strong portfolio of urban regeneration projects and mixed-use development, • This arrangement was to continue until the
Argent proceeded to plan, manage, and deliver the scheme starting in the same year. concession contract expires in 2086, at which point
Argent started from a blank piece of paper, built the scheme on principles and the assets would be returned to the government.
precedents, and then realized these in the master plan. Following the sale of HS1, LCR was restructured
into a property development entity in 2011. Based
• The partnership made a £250 million investment in infrastructure at King’s Cross on the 1996 arrangement between the government
Central since 2009 to 2014, which unlocked the 6 million square feet (557,000 and LCR, DfT expected to re ceive a 50 percent
square meters) of development on the project. The partnership’s equity funding went share of LCR’s net profit after deducting the costs
towards new roads, new public spaces, a new bridge across Regent’s Canal, canal- for the King’s Cross development scheme.
side improvements, and the Energy Centre and its associated district heating and
distribution networks.
Partnership with local communities Long Term Vision
• The process of development for King’s Cross entailed major engagement, • Regeneration initiatives must have a
based on publication of proposals and active discussions with local long-term perspective if a lasting
communities. It led to the development of ten design principles for a contribution is to be made. This requires
human city, as well as the preparation of parameters for regeneration, a long-term commitment from all
learning from other examples in London. stakeholders, in cluding the developer,
residents, occupiers and public services.
• Those were embedded in a series of design frameworks, guiding the • Plans to redevelop the King’s Cross area
individual par cels. There were four rounds of public consultation,
started in early 1990s, a vision was out
allowing a balancing of local benefits against profitability for the
developer. Both the developer and the govern ment listed and adapted the lined in 1997, the outline planning
scheme. permission was granted in 2006, with a
target completion date of 2016. A long-
• One key land value capture technique adopted by local governments in term vision to be implemented by stages
England and Wales is their use of Section 106 of the Town and Country was also set.
Planning Act of 1990. This provides a means for local authorities to • Under the supervision of the DfT, LCR
negotiate agreements or plan ning obligations with a landowner or has been mandated to maximize its long
developer, in association with the granting of planning permissions. term asset value, and its development
strategy has been to use its major sites as
• Section 106 agreements can be financial in that landowners or developers equity to participate in joint-venture
are required to make some sort of financial commitment (lump sum or development companies that can make
recurring) in exchange for development permission; or can be in-kind long term profits through urban
support to local interest, such as affordable housing or community regeneration around the HS1 stations—
facilities. S106 agree ments have to be related to offsetting the impacts of
mainly King’s Cross and Stratford.
the development, and be in accordance with an approved plan.
LONG TERM VISION
Benefits to Key holders
• DFT: DfT provided financial assistance, as well as development rights, to LCR for the construction and
operation of HS1 and the regeneration around King’s Cross. In return, it received part of LCR’s net profit
after deducting the costs for the King’s Cross redevelopment program. As part of the government’s deficit
reduction pro gram, LCR sold its 36.5-percent stake in KCCLP to Australian Super in January 2016, and
the proceeds from that sale were returned to the Treasury.
• Local authorities in London: They were consulted with during the planning of the regeneration program
through the King’s Cross Development Forum. The planning permission was granted with flexibility in
planning parameters, which allowed the plan to be adapted to market conditions as the redevelopment pro
ceded. On the other hand, local authorities also required the partnership developer to provide cash or in-
kind contributions to the infrastructure and facilities in the communities in exchange for the planning
permission.
• Local communities: There was intense consultation with local communities (over 4,000 meetings) during
the planning process, which established the frame work for the regeneration program to ensure that those
living and working close by felt the benefits of the development.263 Local communities benefit from the
Kings’ Cross regeneration scheme employment and training opportunities, hous ing, health and other
community services and facilities, and safer, cleaner streets.