Finsbury Park could be set for a massive boost if a bid for government money is successful.
Haringey, Islington and Hackney councils have joined together to submit a bid for £30 million of the government's Single Regeneration Fund.
Finsbury Park, which is split among the three boroughs, is in desperate need of an injection of cash to regenerate the area.
The plans would see a number of improvements in Finsbury Park. Better schools, safer streets, new health-care facilities, housing refurbishments and a station makeover are all on the agenda if the money is granted.
Cllr Jennette Arnold from Islington Council, which is leading the bid, said: "If the Finsbury Park bid gets through we will really be able to work together to make a huge difference to the people of the area.
"We are not going to let borough boundaries get in the way any more. Finsbury Park will be the new millennium community."
The councils believe that an initial grant of £30 million could spark a further £70 million worth of funding for the project from other sources.
Funding has already been promised by London Transport, local health authorities and the Department fo
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