Haringey Council has unveiled proposals to replace Wood Green’s existing town centre with a £3.5bn development featuring a new shopping centre and up to 8,000 homes.

The area is earmarked to become part of the Crossrail 2 train line, which would significantly enhance its appeal to property investors.

According to initial proposals, sites would generally be redeveloped to accommodate more dense mixed-use schemes with a residential element, while the town centre itself would be redesigned with two new squares.

One of the new squares proposed would link the expected Crossrail 2 station with Wood Green’s existing underground station.

Haringey plans to go to public consultation on the 15-year redevelopment plan in March.

Cllr Joe Goldberg, Haringey Council cabinet member for economic development, social inclusion and sustainability, said: “Wood Green is the heart of North London  and we have an ambitious plan to create almost 8,000 new homes and 4,000 jobs and restore one of the capital’s historic town centres based around a central Crossrail 2 station.

“We are working around the clock to deliver the changes our residents tell us they want to see in Wood Green.”