The organisers of the London 2012 Olympics have completed a deal to sell almost half of the housing units in the Olympic Village after the Games.
Triathlon Homes will purchase 1,379 affordable homes on the Olympic Village development after the signing of terms for affordable housing concludes an agreement-in-principle announced by the Olympic Delivery Authority (ODA) and UK Government last month.
“After the Games the Olympic Village will deliver 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.”
Triathlon Homes is a joint-venture between urban development company First Base and two local housing associations. Construction work started on the Village in June last year and building work is now underway on seven of the 11 residential blocks.
The ODA will receive £270 million ($442 million) in the deal, which will aim to provide affordable housing to workers in key fields such as nursing and teaching.
