Local authority assumes control of Olympic site - planning and development

Thursday, March 18, 2010

London Development Agency will take over control of Olympic site, and its future planning and development, after a deal with the governement

By Ashley Brunskill

Boris Johnson has secured control of the 2012 Olympic site in Stratford, which will enable its Legacy Company to focus on future planning and development of the area.

Mr Johnson announced the deal after a turbulent and complicated negotiation process with the government which has meant the handover coming five months late and at an extra cost of £12 million to the London Development Agency which assumes control.

However, Mr Johnson proclaimed the agreement as a good one for the capital and possibly good for investors.

A press release suggested that investors were keen for a single "go to" body that was "on their side with total responsibility and accountability for delivery".

The OPLC's remit focuses on the next 25 years after the 2012 Olympic and Paralympic Games have been completed.

For example, usage of accommodation in the Athletes Village and the future purpose of the Olympic Stadium are high on the agenda.

The OPLC admits that long-term sustainability will take time but requires assistance from both the local community and investors.

Although future planning and development of the Olympic Park does include concerns over the future of the main stadium, there are several options on the table including West Ham United's new owners looking to move their club into the arena.

Source: ask-re The Property People LLP