London Olympic site to become centre for art and culture
Renovation plans have been announced
News has emerged from London that £141 million of public funds will be pumped into a project that will see the East-London site of the 2012 Olympics transformed into a new arts and culture centre for the city, dubbed the 'Olympicopolis' scheme.
Some of London’s best known cultural institutions have signed on to be part of the project including a new Sadler’s Wells dance theatre, a world-class V&A museum and exhibition space, and two university campuses that are dedicated to arts, design and engineering.
"The exciting plans are for the construction of a new higher education and cultural sector, working with some of the city’s most famous institutions — University College London, the Victoria & Albert Museum, University of the Arts London and Sadler’s Wells. This will secure the legacy of our wonderful Olympic Games, as well as creating thousands of jobs and boosting London’s economy by an estimated £95 million each year." said George Osbourne, British Chancellor, who made the announcement.