Planning
permission was granted on 28 September 2012 for the mixed use development of
the Olympic Park following completion of a complex and wide-ranging Section 106
Agreement.
The development
will be known as the Queen Elizabeth Olympic Park.
Now the
planning gain agreement is in place, the master plan - for five new
neighbourhoods totalling 6,800 homes and 130,000 square metres of employment space
in the Olympic Park - has full planning permission.
The
Section 106 agreement includes £17 million of transport improvements.
Horgan
Lovells advised the London Legacy Development Company, formerly the Olympic
Park Legacy Company, on securing the planning permission.
The new
development will be located on development platforms left following the removal
of the temporary Olympic Games facilities and will frame the retained Olympic
venues including the Aquatics Centre, the Olympic Stadium and the Velodrome.
The
development will include 6,800 new homes across five neighbourhoods, three
schools, three medical centres, nurseries, cultural and leisure uses together
with commercial and retail units.
Construction
of the development is expected to begin in autumn 2013 with a lengthy projected
build programme of 18 years.
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