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."