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I dug out the figures from the DoT on this stretch of road > http://www.dft.gov.uk/traffic-counts/cp.php?la=Barnet#37121 (as the link in my post above seems to have a bug in it now). On the closest data point which is near the hospital, there are:

23,102 motor vehicles PER DAY travelling on the road.
Made up of:
386 HGVs
752 buses
20,490 cars and taxis

A few houses and flats on this development will make very little difference to the pollution and safety on this road.

If you have an issue with pollution and safety it would make more sense set up a campaign on this issue and the much wider range of causes.

A campaign to slow drivers down on this road for instance will have a much bigger impact on these problems than objecting to a relatively small new development.