An old, vandalised sports hall on Eton Manor, in the north of the site, was knocked down to clear the area for future construction work.
In addition, the new venue will provide training facilities during the Olympic Games.
Afterwards it will provide a state-of-the-art sports centre for local people.
London 2012 Organising Committee chairman Seb Coe, said: “We have made excellent progress on the Olympic Park site this year, and this is another important landmark for us on the road to delivering a memorable Olympic Games and Paralympic Games.”
