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EUSTON station, after years of indecision over HS2 and halted Network Rail development proposals, and despite around £500m being spent, may be lifted from its present doldrums if Camden Council has its way.
Camden Council believes that London’s busiest inter-city terminus can contribute £41 billion to the UK economy in 30 years’ time, create 34,000 new jobs and sustain some 2,500 new homes.
A new report commissioned by the council pulls no punches, describing Euston as a station in crisis: “After years of delay and indecision, much of it remains a building site. Homes have been ripped down, businesses lost, and open spaces destroyed. Communities living next to and around the station continue to face disruption and uncertainty.”
However, Euston will regain some its momentum with the opening of HS2 by 2033, which will reduce journey times to Birmingham to 45 minutes, take some pressure off both the Midland and East Coast Main Lines, and support station development at Old Oak Common, which it is warned would need to be redesigned at enormous expense to become a terminus as once suggested.
Camden Council wants to see the government approve the creation of a locally led development corporation to raise £4.2bn of private and public money, two-thirds of it from overseas, to deliver new commercial space for London’s Knowledge Quarter, which generates £35bn – much higher than Canary Wharf’s £26bn – and is growing at a faster pace.
The report says: “This will ensure that benefits are delivered to communities close to Euston that face many more years of disruption because of
