The £23million regeneration of Ponders End High Street will make it “a good place to shop and a real community”, according to the man in charge of it.

Councillors approved a strategy for the huge scheme at a meeting last night that sets out an objective of stimulating the local economy and providing up to 550 new homes, with work to begin by March 2014.

Enfield Council wants to transform the deprived area with a range of major building projects, which involves demolishing around 30 buildings in the area and turning the land into a mixed-use development of shops and houses.

Councillor Del Goddard, cabinet member for regeneration, told the Enfield Independent that he wanted a “comprehensive approach” that involved opening up the former Middlesex University site to the High Street through paths and cycle routes.

He said: “We’ve worked out the delivery strategy so it’s a boost to the traders – it’s a very rundown area so we want to make sure this is about economic stimulation.

“In rebuilding of the units along the High Street, we want them to look a damn sight better and make the high road a good place to shop and a real community – it’s a bit of a mix at the moment and it’s also a traffic jam so we need to look at that.”

The first stage of the area’s regeneration finished earlier this month when Ponders End Park reopened after a refurbishment that included a new fountain and bandstand.

The new Oasis Academy Hadley school is also due to open in September on the former gasworks in South Street, eventually catering for more than 1,900 students.

The council is now entering negotiations with landowners to acquire necessary buildings for the shops and homes scheme and help find them new premises, with compulsory purchases an option if talks fail.

Cllr Goddard said the Ponders End plan was the start of a vision for a complete regeneration of eastern Enfield in the next 20-30 years, which would link up with redevelopment around the new Tottenham Hotspur stadium.

He added: “I can understand why a lot of businesses or residents have a cynical approach, because it’s been like this for 20 years and they’ve seen a lot of neglect and failed initiatives. It always seems to be on a downward spiral and they’re saying ‘what’s different this time?’

“But these plans are real – we’ve got some very clear commitments to making the high streets work and helping businesses and we’ve started to assemble the money.”

The council will start the process of finding a developer to build the scheme in June, with detailed plans to be submitted next summer.