This used to be a train station of the same name, on the line from Dunstable to Welwyn. The line from Luton to Dunstable was the last to close, and the track still exists in places. If you go west, past the student accomodation you can see the start of the trees which outline the trackbed, and run to the north of the Galaxy Leisure Centre and across a road. Keep following the outlined route and eventually it will be joined by track.
There is some evidence of where the line from Bute Street joined the main line to the east of Bute Street, likewise. It would be possible to reopen this as a branch to Dunstable if the trees were cleared and the track was relaid, abeit crossing the station street at a level crossing and into Luton's mainline station, which used to be known as Midland Road station.

Just found out about the Luton and Dunstable Translink - dear oh dear.