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The Olympic Stadium has already hosted the BUCS Visa Outdoor Athletics Championships


lines forming one of the biggest barri- ers to redevelopment. The complex and successful undergrounding of the power infrastructure created a huge develop- ment platform not just for sports stadia for the Olympic Games, but for the ex- tensive commercial investment that will follow in the park and its vicinity once the Games are over. The Olympic and Paralympic Games is,


in reality, a staging post in the transfor- mation of the Lower Lea Valley. Once the last medals are awarded, development will recommence. Five neighbourhoods comprising up to 8,000 new homes are to be built over a 20-year period, while bidders are vying to take up long leases on the buildings in the one million or so square feet of space that will act as the press and broadcast centres while the Games are in progress. Deloitte estimates that some £2.5bn


to £3bn of construction and related ser- vices contracts are still to be awarded in the Queen Elizabeth Olympic Park and neighbouring development areas. The Games are a six-week sporting event in


Issue 3 2012 © cybertrek 2012


the middle of a decades-long redevel- opment project. The building blocks are firmly in place and British companies are already at the heart of this success story.


Eyes on the prize While the achievements to date are bold and arguably broader than other UK regeneration programmes of the last 30


The new LLDC is one positive step but more


action will be needed to hold the focus on long- term gains, rather than short-term trade-offs


years, they are largely physical and envi- ronmental in nature. The building blocks for wider social, economic and enter- prise-led benefits are just as complex, but harder to evidence and in many cases are still being refined.


For a lasting legacy that British busi-


nesses can benefit from, a number of steps are required: ● Maintain Olympic delivery structures and governance. London 2012’s integra- tion of community, local, city-wide and national delivery structures has been a pioneering success for the UK. It dem- onstrates what can be achieved with commitment from all parties. It would be a big mistake for the big political hit- ters to turn their attention away from the Games legacy once the Paralympic flag is lowered. Without sustained senior commitment to – and accountability for – delivering every pound of legacy value, there is a risk that the local cross-party and cross-borough entente will stumble. The new London Legacy Development Corporation (LLDC) is one positive step but more action will be needed to hold the focus on long-term gains rather than short term trade-offs. ● A vibrant park legacy. The London Mayor and government showed fore- sight in establishing a dedicated legacy vehicle for the Olympic Park. The LLDC


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