The scheme, which will be named Here East, includes 1 million square feet of digital infrastructure spread across three main buildings, including a 300,000 sq ft innovation centre, a 1,045 seat auditorium and a 850,000 sq ft building to comprise broadcast studios, offices, a data centre and educational space.
More than 7,500 jobs are expected to be created through the scheme, including 5,300 directly on-site and a further 2,200 in the local community through the impact of using local supply chains and new business generation.
The development will be brought forward by iCity, which is a joint venture between real estate investment company Delancey and data centre operator Infinity SDC.
"I am delighted that planning permission has been granted to allow the Here East vision to become reality," said LLDC chief executive Dennis Hone in a statement. “This is an exciting legacy, as the buildings that were used to house thousands of journalists during the London 2012 Olympic and Paralympic Games will now create thousands of jobs."
“As the Park opens to the public on 5 April, this is another part of our plan to create a new heart of the city with world class sporting venues as well as new homes and employment opportunities," Hone added.
“I am delighted that our designs and plans to develop a world-leading cluster for cutting-edge creative and digital companies have been approved," said iCITY chief executive Gavin Poole.
“As well as creating thousands of jobs and training opportunities, Here East will provide state of the art infrastructure and capacity for the fastest growing sectors of the UK economy to continue their impressive expansion."
Work on the site is expected to start in the summer.
