29/09/2011

RICS Launch London 2012 Research

The regeneration of the Olympic Park site and associated infrastructure will be a crucial step in providing a lasting legacy in East London after the 2012 Olympic Games, according to new research published by the Royal Institution of Chartered Surveyors (RICS).

The independent research, commissioned by RICS with the University of Westminster, compares the planning and delivery of the Games in London with the approach of other host cities in delivering regeneration associated with six previous major sporting events.

The report highlights London's focus on legacy from the outset as a key factor in planning for lasting benefit and the Games provide a unique opportunity to stimulate the regeneration of the heart of East London with the delivery of new homes and infrastructure on and around the site. Other regeneration initiatives nearby, such as Stratford City, are also vital in providing wider regeneration and opportunities for East Londoners.

Although the challenges of the global economic downturn impacted on private sector investment the commitment of Government and the involvement of the host boroughs and wider stakeholders have been crucial in bringing in this project, with a focus throughout on improving the lives and opportunities of East Londoners.

The RICS hopes that the good practice shown in London will help those involved in planning major sporting events in future and highlights key elements that have helped make this project a success:

The location of the Olympic Park has good transport to central London and this makes it a good candidate for regeneration

Legacy planning has been a priority from the earliest stage in 2002 as set identified in the Select Committee report that set out the aims for London

The involvement of a wide range of stakeholders was essential in planning legacy aims

Government's support for regeneration and a lasting legacy has been unequivocal and this will be essential for the longer term regeneration in east London that will take many years

Legacy aims built on strategic plans for London’s future and were associated with existing regeneration projects

The focus has been on the transformation of east London beyond the Olympic Park, not just on the site

Social and economic regeneration, will make a difference to the lives of east Londoners and are at the heart of the London Host Boroughs' convergence aims

Hugh Robertson, Minister for Sport and the Olympics, said: "The regeneration of East London around the Olympic Park has been a major success story. It now boasts some of the best transport links in the Capital, the biggest shopping centre in Europe and has brought thousands of jobs to the area. But there is still much more to come and its full impact won’t be felt until the years after 2012. World class parks, sporting facilities and affordable housing will all benefit the lives of East Londoners in the future, leaving a real, local legacy. The project is a real triumph for both British construction and public sector management."

(CD)

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