Camden Seeks Control of Euston HS2 Redevelopment for Jobs, Homes 2026

Key Points

• Camden Council is seeking new powers from the Government to establish a “locally led” development corporation for the Euston station redevelopment area.
• The push comes after a decade of “disruption, destruction, and uncertainty” caused by the HS2 project in the local community.
• The council aims to take the driving seat on delivering new jobs and homes as part of the vast changes planned over the next 20 years.
• Chancellor Rachel Reeves confirmed in her October 2024 Budget that the HS2 high-speed line will terminate at Euston, not Old Oak Common in west London.
• Tunnelling from Old Oak Common to Euston commenced last month, but the new HS2 station remains unfunded and without a confirmed opening date.
• The proposed development corporation would oversee wider changes around the new station and influence the over-station commercial development intended to fund the station itself.
• Camden Council, currently under Labour control, wants a direct say in proposals to ensure local benefits from the regeneration.

Camden, London (North London News) February 21, 2026 – Camden Council has launched a bold bid for enhanced authority over the Euston station redevelopment, aiming to spearhead the delivery of jobs and homes following years of turmoil from the HS2 project. The Labour-led authority proposes creating a “locally led” development corporation to coordinate transformations around the station over the next two decades, ensuring residents reap rewards from the high-speed rail’s arrival. This move responds directly to a decade of what council leaders describe as “disruption, destruction, and uncertainty” inflicted by HS2 construction.​

What Triggered Camden Council’s Push for Control?

Camden Council’s initiative stems from prolonged community impacts of the HS2 project, which has reshaped the Euston area without commensurate local gains thus far. As outlined in coverage by the Evening Standard, the council seeks Government approval to form a development corporation that would lead regeneration efforts. This body would not only manage broader area changes but also shape the commercial development planned above the new station, which is pivotal for funding the HS2 terminus.​

The council’s motivation is rooted in a desire to prioritise local needs after extensive disruption. Tunnelling for HS2 from Old Oak Common to Euston began last month, marking a milestone, yet the station itself lacks funding and a timeline. Chancellor Rachel Reeves solidified Euston’s role as the HS2 endpoint in her October 2024 Budget, rejecting earlier plans for termination at Old Oak Common.​

Why Does the Development Corporation Matter for Euston?

A development corporation under Camden’s stewardship would place the council “in the driving seat” for regeneration outcomes. According to the Evening Standard’s report on the council’s ambitions, this entity would coordinate the “vast changes” anticipated around Euston, integrating the new HS2 station with Network Rail’s existing mainline station and the London Underground Tube station. By gaining oversight, Camden aims to secure tangible benefits like new employment opportunities and housing amid the project’s scale.​

The proposal addresses a power imbalance in past decision-making. HS2’s arrival promises economic uplift, but without local input, benefits might bypass residents. The council, under Labour leadership, positions this as “payback” for endured hardships, ensuring redevelopment aligns with community priorities.​

How Would the Corporation Influence Station Funding?

The over-station commercial development is central to financing the new HS2 station. Camden wants a voice in these plans to guarantee they deliver affordable homes and jobs, not just profit-driven schemes. As the Evening Standard detailed, the corporation would have a “say in the proposals” for this funding mechanism, preventing top-down impositions.​

This approach mirrors successful urban regeneration models elsewhere in London, where local authorities have steered post-infrastructure growth. Without it, critics fear Euston risks repeating patterns of gentrification displacing existing communities.

What Is the Current Status of HS2 at Euston?

HS2’s progress at Euston remains piecemeal despite recent advances. Tunnelling from Old Oak Common started last month, a critical step towards connectivity. However, the station’s construction hinges on unresolved funding, leaving its opening date indeterminate.​

Chancellor Reeves’ October 2024 Budget confirmation was pivotal, affirming Euston over Old Oak Common as the London terminus. This decision followed years of debate, providing clarity but not resources. The existing Euston infrastructure—handling mainline and Tube services—will integrate with the HS2 build, amplifying the area’s strategic importance.​

Who Supports Camden’s Proposal and What Are the Challenges?

Camden Council, Labour-controlled since local elections, drives this agenda with cross-party resident backing implied in their rhetoric. No explicit opposition from national Government appears in initial reports, though funding constraints pose hurdles.​

Challenges include securing ministerial approval amid fiscal pressures. HS2 costs have ballooned historically, and Reeves’ Budget prioritised terminus confirmation without new allocations. The council must demonstrate the corporation’s viability to win over skeptics wary of added bureaucracy.

As reported in broader HS2 coverage by the Evening Standard, tunnelling progress offers momentum, but unfunded stations underscore urgency for local empowerment.​

How Has HS2 Impacted Camden Residents Over the Decade?

The council labels HS2’s tenure as one of “disruption, destruction, and uncertainty,” capturing community sentiment. Demolition for works displaced businesses and families, while construction noise and traffic exacerbated daily life. Promises of regeneration have materialised slowly, fuelling frustration.​

Residents have endured site compounds, utility disruptions, and visual blight around Euston. The Evening Standard highlights this as justification for Camden’s assertiveness, framing the corporation as restorative justice.​

What Benefits Could Redevelopment Bring Long-Term?

Over 20 years, Euston could transform into a vibrant hub. Projections include thousands of homes and jobs, leveraging HS2’s speed to connect North to the capital’s core. A locally led corporation ensures affordable housing quotas and training schemes prioritise locals.​

Integration with existing transport enhances accessibility, potentially boosting Camden’s economy. Yet, success depends on equitable planning, where Camden’s involvement is deemed essential.

What Role Did Chancellor Reeves Play in This Development?

Rachel Reeves’ intervention was decisive. Her October 2024 Budget explicitly stated HS2 would terminate at Euston, averting a scaled-back service. This aligned with Labour’s infrastructure pledges post-election.​

The decision followed lobbying from transport advocates and local leaders. However, without station funding, Reeves’ confirmation risks becoming symbolic unless paired with empowerment like Camden’s proposal.​

Will the Government Grant Camden These Powers?

No official response from the Department for Transport or Downing Street has emerged yet. Camden’s pitch emphasises local accountability, appealing to devolution trends under the current administration. Success could set precedents for other HS2-affected areas.

Opponents might cite central oversight needs for mega-projects. Nonetheless, the council’s narrative of “payback” resonates, potentially swaying ministers.

Broader Implications for London Regeneration?

Euston’s fate influences Camden’s future and London’s growth corridors. A empowered council could model collaborative infrastructure-led development, balancing national priorities with borough needs.​

Similar debates surround other stations like Old Oak Common. Camden’s gambit tests Labour’s localism commitments against fiscal realities.