Confidential commercial negotiations are continuing about the costs of the various elements of the Olympic Village. Therefore it is not possible to provide build cost information until those negotiations have concluded.
Confidential commercial negotiations are ongoing between the Olympic Delivery Authority, the preferred developer, Lend Lease, banks and Registered Social Landlords regarding investment for the Olympic Village. Therefore it is not possible to provide detail of the investment arrangements until those negotiations have concluded.
My Department is working closely with the Mayor, the London Development Agency, London borough of Hackney and other partners to explore proposals for the legacy use of the International Broadcast Centre/Main Press Centre (IBC/MPC) to ensure that we are able to leave a positive sustainable legacy for the site and for local communities. As part of this work programme, we are working with the Greater London Authority, the Department for Innovation, Universities and Skills and the Higher Education Funding Council for England to undertake a feasibility study on the need, size, scope and specialisms for a potential new university on the IBC/MPC site, or elsewhere on the Park, as part of the legacy planning for the Park site.