Merton council has agreed a package of measures to ensure a £1.3bn regeneration scheme can go ahead after project developer Clarion warned a deficit risked making the project unviable.

The council has now agreed to forego the 5% of sales income it was due to receive under the terms of the original deal with Clarion to regenerate three estates in the south-west London borough. Clarion is building 1,400 new homes and rebuilding a further 1,200 under the 15-year regeneration of Merton’s Eastfields, High Path and Ravensbury estates.

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