Purpose

Croydon is London’s
single biggest regeneration and investment opportunity.
This
report provides an update on
the Council’s Growth Plan, Town Centre Vision and Town Centre
Regeneration Programme, funded by a combination of Levelling Up
Fund (LUF), Growth Zone (GZ) and other finance totalling almost
£40M.
 
The key long term sustainable
solution to Croydon’s current financial difficulties is
to
lead and enable local economic
growth, building new homes, creating new jobs and
businesses, with the multiplier
effect of increased spending in the local economy and
increased income to the Council
through business rates and council tax. Growth and
regeneration are thus core
elements of the Council’s Target Operating Model approved by
Cabinet in February 2025 and Transformation plans. As part of the
Council’s adoption of a new Target Operating Model, the core
themes of a Town Centre Vision for the regeneration of the town
centre were cited as a critical enabler in improving services for
residents and driving investment into the borough.
 
Croydon has history, heart and
hustle. This report demonstrates how the Council is
making progress in implementing
its new Croydon Growth Plan, Town Centre Vision
and Regeneration Programme. The
Regeneration Programme aims to draw more
people into the town centre by
improving connectivity, the environment and delivering
a programme of activities to
support the regeneration and vitality of the town
centre.
This programme links with and
enables the work of partners such as Unibail?Rodamco?Westfield
(URW) to deliver their endorsed masterplan, setting out
bold proposals for new homes,
restaurants, shops, venues, tree-lined walkways and a new public
square. The Council also continues to invest in upskilling local
people, for example, supporting London South Bank University so
that residents can benefit from new job opportunities, as economic
regeneration gathers pace.
 
Wellesley Road is being
reconnected with a major new pedestrian crossing now
underway to better link East
Croydon to the heart of the town. George Street, Dingwell Road, and
North End are being revitalised with new greenery, lighting,
wayfinding and cultural activation. In the next couple of months, a
host of new shops will open in the iconic ‘Allders Parade’, reinvigorating North End and
improving the retail offering.
 
Improvements to Surrey Street,
home to one of Britain’s oldest markets, will
provide
better economic opportunities
for traders and local businesses. The Council is also
investing in district centres
across the borough through the UK Shared Prosperity Fund (UKSPF)
programme, for example, supporting the Croydon Food and Music
Festival, Croydon’s biggest festival, drawing thousands into
the restaurant quarter and supporting the local economy.
 
Delivery of growth and
regeneration plans, including improved social, economic,
cultural and physical
infrastructure, is closely aligned with the Executive
Mayor’s
Business Plan 2022 –
2026.
 
To support the delivery of the
Town Centre Vision, Croydon Growth Plan and
Regeneration Programme the
Executive Mayor Jason Perry has convened the
Croydon Regeneration
Partnership Board with key strategic partners to ensure
a
shared vision, focus and
clarity regarding responsibilities to promote the
undeniable
Croydon regeneration
opportunity at the local, regional and national level. With
plans,
pipeline, momentum, footfall,
connectivity, and critical mass, Croydon is ready for
investment and growth. Delivery
is underway and set to expand further.

Content

For the reasons set out in the
report, the Executive Mayor and Cabinet AGREED:
 
2.1. To note the ongoing promotion and dissemination of the Croydon
Growth Plan as set out in section 5; and
 
2.2. To note the progress with delivery of the Town Centre
Regeneration Programme as set out in section 5.