London Mayor Boris Johnson has fired the starting gun in the race for hundreds of millions of pounds of Olympic Park legacy work over the next 20 years.
Speaking at the Mipim property conference in Cannes, Mr Johnson unveiled plans for the first of five neighbourhoods to be built in the Olympic Park after the Games.
The initial round of bids will be for an 800 unit development, part of the 8,000 homes expected to be built on the park.
Developers will be able to bid in April to build the homes between the VeloPark and the Athletes’ Village in the north east of the park.
The development will be a mixture of flats, mews houses and town houses with 60 per cent providing family houses.
Work will start on site in 2013, with the neighbourhood centred around 3,000 sq m of community and ancillary facilities including a polyclinic, two nurseries and a community centre.
The homes will be served by Chobham Academy School, which will open as part of the 2,800 unit development in the neighbouring Olympic Village.
Mr Johnson said the Olympic park was the brightest opportunity amidst a plethora of London development schemes he was in Cannes to promote.
“The Olympic park remains a simply incredible opportunity,” he said.
“Some people want to buy all of it some people want to buy bits of it; I have an open mind. We are dealing with a plethora of bidders and that position is a tribute to the Olympic Park Legacy Company.”
Mr Johnson was joined at the launch by OPLC chief executive Andrew Altman, who told Construction News he was open to a range of potential proposals for the site.
“We are very open to what this partnership could look like.
“Our plan is to have the developers and operators on site before the Games and one of the reasons we chose this site is that there is already a lot of infrastructure in place.
“It will most probably be awarded to one bidder building all 800 units but it could be split between two.
“This is a great opportunity to get developers to show they can build high-quality family housing and we want developers who are really focused on quality. It will be a balance between price and quality.”
Mr Johnson also delivered the keynote address at the conference as part of the UK’s role as the country of honour.
He used the platform to sell a range of London regeneration schemes to potential developers including Earls Court, Nine Elms, the Royal Docks, King’s Cross, Croydon and Stratford.