Plans have been submitted for an industrial unit to be demolished in Borehamwood, and replaced with 37 homes.
The application, validated on Monday, December 18, would see a multiple storey building constructed at 26 - 30 Theobald Street.
The building would range from two to six storeys and would include both residential dwellings and a commercial unit.
A planning statement, attached to the application, reads: "There are considerable economic benefits which result from the proposal.
"The future residents would be economically active, and the construction phase would also bring considerable economic benefits.
"New residents will help to deliver a significant boost to the local economy through ‘first occupation’ expenditure of £216,478 .
"This is expenditure on new furniture and other household goods that residents spend as ‘one-offs’ when moving into a new home."
The plans also describe children's play areas included within the application.
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The statement continues: "As per the urban design comments as part of the pre-application, we have included two areas of dedicated children’s play space within the central area of the site.
"The exact detail of which can form part of a condition, with the space already reserved."
The full plans can be viewed online by using reference 23/1775/FUL on the Hertsmere Borough Council planning portal.
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