King’s Cross is now ‘vital piece’ of London economy after regeneration, concludes study paid for by developers
- Credit: Archant
King’s Cross was once a hotspot for crack cocaine and prostitution – now an independent study (albeit one commissioned by a developer) has concluded that flattening and rebuilding it has been good for the area.
Redevelopment of land behind the station began a decade ago. It’s now a haven for offices and chain shops and restaurants.
The study, by Regeneris, was commissioned by Argent, one of the two companies behind the redevelopment.
Regeneris said the project has helped create 10,000 jobs and £600million for the economy per year.
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Chris Paddock, Regeneris director, gushed: “King’s Cross is now a vital piece of the London economy.
“Thousands of new workers and residents living on the site, not to mention the millions of visitors every year, have created enormous local economic value. Not just through spending and job creation, but additional council tax and business rates.”
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