TheBarnet Council signed a deal on the £4 billion Brent Cross Cricklewoodregeneration scheme in London that includes the long-awaited revamp of theBrent Crossshopping center.

, Standard LifeInvestments and Argent Related will work on the project that will also provide7,500 homes, according to a news release from the council.

Hammersonand Standard Life will redevelop their co-owned retail asset, while ajoint venture betweenBarnet Council and ArgentRelated will develop the homes and a new high street, along with parksand other community facilities.

for the scheme have beenin the works as far back as 2009, with planning given in 2014.

Thecouncil will also deliver a new Thameslink station at the development, backedby the Greater London Authority and a £97 million grant from the government.