A developer has been chosen to build hundreds of homes on Enfield Council’s flagship regeneration scheme.

Construction firm Galliford Try will provide 725 homes – up to half of which will be classed as affordable – at the Meridian Water site in Edmonton.

The homes will be built around the new Meridian Water train station – which is due to open next month – alongside public squares, shops and leisure facilities.

The decision, which was made at a cabinet meeting on Wednesday (April 24), marks a key milestone for the £6 billion regeneration project, which has been dogged by a series of setbacks.

A deal with Barratt Homes fell through in October 2017, with the council claiming the developer’s plans offered a “poor deal” for residents.

When Hong Kong-based Pacific Century Premium Developments (PCPD) pulled out of talks with the local authority last year, the council ditched plans to work with a single master developer on Meridian Water.

Council leader Cllr Nesil Caliskan claimed a deal with PCPD could have led to a large number of properties being sold off to overseas investors rather than to local residents.

Cllr Caliskan told Wednesday’s cabinet meeting: “We wanted the main beneficiaries to be the local community.

“The heart of Meridian Water will be about shaping it for the local community.”

After the deal with PCPD fell through, the council opened up the bidding process to other firms through the Greater London Authority’s (GLA) development panel.

Galliford Try was chosen from a shortlist of four bidders, which also included L&Q, Peabody and Redrow, after 17 developers and housing associations lodged bids for phase one of the project.

Cllr Caliskan said: “When we were boldly talking about 50 per cent affordable homes, how we wanted to deliver quickly and we did not want to risk overseas developers, we were told ‘you are not going to have much interest’.

“I think the interest we have found, and the fact that we were able to shortlist four potential partners, demonstrates that if you have a clear, central vision of your priorities set out at the beginning, you are not scaring off developers but being up-front about what is acceptable.

“We were able to deliver the procurement at speed because we chose to work with the GLA procurement development panel.

“The procurement process would normally would have taken 18 months – so the decision to go with the GLA was a good one.”

The first homes will be built on phase one of the scheme by 2022.

The council has already begun the search for a developer to work on phase two of the regeneration project at Leeside Road.

Meridian Water will ultimately provide 10,000 homes and 6,000 jobs for the borough.

Stephen Teagle, chief executive of Galliford Try Partnerships, said: “We are delighted to have been selected to work in close partnership with Enfield Council and the local communities on the delivery of Meridian One as a new vibrant mixed-use, mixed tenure neighbourhood.

“We will create an environment for local people to thrive – providing quality affordable homes, opportunities for local start-up businesses to flourish, great public spaces and a design which celebrates the parkland character of the Lea Valley.

“This is a great opportunity to demonstrate responsible and accountable regeneration through a responsible, accountable partnership.”