The benefits, costs and success of the regeneration for the 2012 London Olympic games.
In 2005 London won the bid to host the 2012 Paralympic and Olympic games with the idea that east London would be regenerated through sports led regeneration, now in 2017 what was the success in of the Olympic games?
The budget for the Olympic games was set to 10 billion pounds which were the highest on record so far, some of the things that have to be built for the 2012 games were: an Olympic village, Basketball arena and an Olympic stadium. The location of the stadium is Stratford which in the 1970s and 80s was hit with widespread unemployment and decline in industry, areas such as the river lea which runs straight through the Olympic park which had high levels of toxic waste, the regeneration of the land involved moving 11,000 people and 380 companies needed repositioning and paying compensation.
Before the Olympic games had even begun in 2010 Google and Facebook had already signed a deal to create a new media center providing 3000 new high tech jobs giving a good incite to the possibilities that the park could become after the games. Another even bigger resource will be the affordable houses created from the construction of the Olympic village, the average house price in Newham is £369,000 and its GDP per capita is only £36,000, therefore, there is a big demand for cheap affordable housing especial because places like canning town are close by with wages 25% below UK average. There will be nearly 3000 houses built with 35% of them being affordable housing however the amount was meant to be 75%.
(taken from www.bestplaces.net/economy/city/connecticut/stratford )
Land prices around the Olympic village have risen and now places such as Clays lane which was once a rundown area of London is now the desired spot to live in the increase in land price will help bring down the £10 billion price tag for the cost of the games, other things that help with the cost of the games are: the sale of 9 million tickets, transport for the millions of people who come to watch the games and £1.5bn high value overseas contracts such as helping to design venues in other host-nations like the winter Olympic games in Russia.
( http://www.bbc.co.uk/news/uk-23370270)
The budget for the Olympic games was set to 10 billion pounds which were the highest on record so far, some of the things that have to be built for the 2012 games were: an Olympic village, Basketball arena and an Olympic stadium. The location of the stadium is Stratford which in the 1970s and 80s was hit with widespread unemployment and decline in industry, areas such as the river lea which runs straight through the Olympic park which had high levels of toxic waste, the regeneration of the land involved moving 11,000 people and 380 companies needed repositioning and paying compensation.
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| A simplistic view of the Olympic park https://www.englishclub.com/images/vocabulary/Olympics/2012-london-olympics-zones-map.png |
Before the Olympic games had even begun in 2010 Google and Facebook had already signed a deal to create a new media center providing 3000 new high tech jobs giving a good incite to the possibilities that the park could become after the games. Another even bigger resource will be the affordable houses created from the construction of the Olympic village, the average house price in Newham is £369,000 and its GDP per capita is only £36,000, therefore, there is a big demand for cheap affordable housing especial because places like canning town are close by with wages 25% below UK average. There will be nearly 3000 houses built with 35% of them being affordable housing however the amount was meant to be 75%.
(taken from www.bestplaces.net/economy/city/connecticut/stratford )
Land prices around the Olympic village have risen and now places such as Clays lane which was once a rundown area of London is now the desired spot to live in the increase in land price will help bring down the £10 billion price tag for the cost of the games, other things that help with the cost of the games are: the sale of 9 million tickets, transport for the millions of people who come to watch the games and £1.5bn high value overseas contracts such as helping to design venues in other host-nations like the winter Olympic games in Russia.
( http://www.bbc.co.uk/news/uk-23370270)
