Six developers have been shortlisted for the first neighbourhood to arrive on the Queen Elizabeth Olympic Park.
Set to be called Chobham Manor, the residential property scheme will be located between the VeloPark and Athletes Village, with 70 per cent of the 800 homes earmarked to be large enough for families.
The news from the Olympic Park Legacy Company comes after the British Council for Offices (BCO) recently predicted a rally in rents for east London offices
as a result of the 2012 Games.
BCO chief executive Richard Kauntze explained rents for East End offices will increase, so long as companies can enjoy a well-connected public transport system, helping boost tenant demand.
With new homes set to be built in this part of the capital, businesses may find having a base here proves favourable, as individuals and families could look for local employment.
In addition, Stratford regional and international train stations will be within walking distance and connect to nine rail lines.
Taylor Wimpey and London & Quadrant, East Thames and Countryside Properties and St James Group are three of the shortlisted six developers.
They are joined by Barratt Homes and Le Frak Organisation, Notting Hill Housing, United Housing and HTA and the Swan Housing Association, Urban Splash and Yoo & Mace.
In 2014, the first residential properties are expected to be delivered. Commenting on the news, chief executive of the Olympic Park Legacy Company Andrew Altman said: "We have received an extremely strong response from developers interested in building Chobham Manor. This reflects the strong market appetite to develop family housing in the first neighbourhood to be created in the Queen Elizabeth Olympic Park."
At the end of November, the Olympic Delivery Authority Planning Committee approved a £1.3 billion development that includes 4 million sq ft of Grade A offices, known as the International Quarter.
The plans also feature a hotel and 350 homes.
Posted by John Evans
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