Southwark won’t price out residents, councillors promised at a lively public meeting that agreed to spend several hundred thousand pounds to regenerate Guy Street Park near London Bridge.

Residents urged councillors to ensure the borough remains affordable to live and work.

The council meeting focussed on new building projects in relation to green spaces and infrastructure in Peckham, Bermondsey and London bridge.

Nearly £800,000 from the Community Infrastructure Levy (CIL) – funding from developers for infrastructure – will be spent on Guy Street Park. It will improve play areas, paths and lighting, making the park safer and more welcoming for families.

Several councillors including planning committee chair, Richard Livingstone, stressed that developers should give back to residents and align with the council’s sustainability and inclusion goals.

The committee also reviewed plans for the Snowfields Quarter development, a major regeneration project in the London Bridge and West Bermondsey area.

The proposal includes new mixed-use buildings combining housing, shops and office spaces.

Councillors questioned the developer, Oxford Properties, about environmental sustainability, local job opportunities and the number of affordable homes being provided. They also raised concerns about the impact of construction on nearby schools and traffic and called for a stronger commitment to community wellbeing.

The meeting ended with agreement to request further information on the Snowfields Quarter plans.