University College London and the London Borough of Newham are looking into creating a new campus for UCL as part of the Olympic regeneration plans for Newham.
Both parties have six months to progress proposals for the development, which could include teaching and research space as well as additional community, residential and commercial space.
The proposed site is within the Greater Carpenters Neighbourhood, east of the Olympic Park, which has been earmarked for redevelopment since 2010. It is in line with Newham Council’s Stratford Metropolitan Masterplan as well as UCL’s Bloomsbury Masterplan published last week.
Residents and stakeholders in the area will be consulted on the plans.
Sir Robin Wales, Mayor of Newham said: “This development of world-class academic facilities in Stratford would create a wealth of benefits for the local area, the borough and East London as a whole.”
Professor Malcolm Grant, UCL President and Provost, said: “The Carpenters Neighbourhood proposal represents a great opportunity for UCL, creating an additional campus at the heart of the Olympic Legacy with excellent transport links to our existing facilities.
“The challenges of delivering this exciting vision will be substantial, but the regeneration potential is of great significance for the local community, the Olympic Legacy and the economy of London as a whole.”
The Mayor of Newham and cabinet are expected to consider the proposals in mid-2012. UCL has appointed Drivers Jonas Deloitte as its lead adviser to look at the feasibility of the project.