Half of homes already sold in London 2012 Olympic Village
ALMOST half of the housing units in the £900 million London 2012 Olympic Village have been pre-sold.
VILLAGE PEOPLE: Triathlon Homes have agreed to buy just over 1,300 units in the London 2012 Olympic Village after the Games are concluded
The Olympic Development Authority have concluded a deal with Triathlon Homes to sell 1,379 of the 2,800 homes, it was announced today.
The pre-sale deal will see Triathlon Homes, a joint venture of two local housing associations and the urban development company First Base, invest £268.7 million.
Last month the recession-hit Olympic Village project was effectively nationalised after developer Lend Lease admitted they had failed to secure private investment due to the global economic downturn.
"The Athletes' Village will deliver the legacy of thousands of new homes for Londoners and the affordable housing elements will ensure local people of all backgrounds can benefit from this new world-class development," said ODA chairman John Armitt.
"Concluding the affordable housing agreements is an important step and with construction work on site making strong progress, the project remains on track."
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Lost Heritage-London becoming India
Looking at the comments, it can be easily inferred that London is slowly and steady becoming India. The mass loot by government officials, Waste of money on such useless projects and no amenities to general public speaks of the fact. Welcome to the group of fake/ hypothetical superpowers/economies.
London Olympics
What is Chanchal Kaptaan? Can anybody tell?
They haven't really sold any
They haven't really sold any apartments to households, and who knows if they will. Perhaps the whole thing will become a council estate. The Olympic Village concept is a colossal piece of vanity for the IOC. The athletes should stay in hotels. As for this being "affordable housing", when did "affordable" and "private" become two separate categories? We need to start aspiring to sell properties in our cities to owner-occupier families on average to middle incomes. The current divide between super-expensive private housing sold only to the childless young and the very rich, and social housing for the unaspiring, simply reinforces the failure of our cities to be all-embracing communities. A healthy community needs a high volume of owner-occupiers committed to it and able to afford to live in it for life and raise their children in it.
Waste of money
So the government is paying 900 million to build this thing and they've sold half of the apartments for 268m. If they sell the other half for the same amount that totals 536 or a loss of 364 million. When will people wake up and see this project for the colassal waste of taxpayer funds that it is.
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