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Olympic Village cost may fall to developer


DEVELOPERS COULD be expected to shoulder the £200M cost of building the Olympic Village and media centre, it emerged this week.

Under a deal now being finalised between the Olympic Delivery Authority and the consortium which owns the Stratford City development, the ODA could end up leasing the media centre and Olympic village from the developer during the games.

The developer could then sell on the space afterwards.

The move follows a decision by the ODA to relocate the two facilities onto the Stratford City development next to the Olympic Park.

Stratford City is owned by a consortium led by Channel Tunnel Rail Link developer London & Continental Railways, whose Stratford International station also sits on the site.

The evelopment consortium also includes Stanhope, Multiplex and Westfield.

Previous plans for the Olympic Park had only the south eastern tip of the athletes' village encroaching on the Stratford City site.

The media centre was at the southern end of the park.

ODA chief executive David Higgins said the deal would kick start part of the Olympic construction programme.

'All this land is available which would eventually have been developed, but by using some of that land we were able to start the athletes' village earlier, ' said Higgins.

The ODA was reluctant to confirm the deal this week.

An ODA spokesman said: 'We always anticipated some private sector involvement in the construction of the park.

The facilities that have been relocated may be delivered by Stratford City, but this has yet to be determined.'

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