The 7.5-acre Broadwalk Shopping Centre, acquired by Ballymore in 2020, is key to unlocking the regeneration of the town centre.
By working with TfL, which owns much of the neighbouring land including the bus station and bus garages, the project will be able to reach its full potential.
The development will deliver an improved bus station as well as garages and will make it even easier to travel around Edgware while accessing the main shopping and residential areas. Ballymore will hold a majority stake in the strategic partnership.
John Mulryan, group managing director at Ballymore, said: “We have long been committed to partnerships, working successfully with organisations to create new homes and mixed-use communities across London.
“We are looking forward to collaborating with TfL and Barnet Council to deliver our shared vision of creating an outstanding place for modern urban living, with thriving commerce, new and integrated public spaces, improved connectivity and public transport, new leisure and cultural offerings and a variety of new homes.”
Stephen McDonald, Director for Growth at Barnet Council, added: “We are pleased to see this project take another step forward – a crucial part of the council’s overall plans to reinforce and enhance Edgware’s status as a major town centre to better serve the needs of those living and working here.”