Mayor of London Boris Johnson and the LLDC also announced that iCITY has been selected as the preferred bidder to become a long-term tenant of the Olympic Press and Broadcast Centres.
"Today's announcements are the culmination of three years' hard work from the team. Building on the recent planning approval of our masterplan for the Queen Elizabeth Olympic Park, they represent a significant milestone in turning planning into reality," said Andrew Altman, chief executive of the LLDC. "Through this kind of private investment we can work to create a great employment, housing and sporting legacy for east London."
ICITY must now submit a "credible" business plan to show it can deliver the LLDC's aspirations for the Press and Broadcast Centre site, the LLDC said.
The LLDC has also announced that it has selected a developer for the first new housing development on the Queen Elizabeth Olympic Park but will not name the developer until next week.
The first Olympic neighbourhood will be called Chobham Manor. It will include 800 new homes, of which 70% will be made available for affordable housing. Chobham Manor will be a return to London’s traditional family neighbourhoods of terraced and mews houses, according to the LLDC. It will include tree-lined avenues and 40% of the new homes will be houses with gardens.
The neighbourhood covers an area of 9.3 hectares and is located to the north-east of the Park. It will include leisure facilities, a health centre and two nurseries. There will also be community space and local retail stores. Work will begin on the housing development as soon as the Games finish in order for the first homes to be ready at the end of 2014.
