London 2012 organizers seal Olympic Village deal
Posted Jun 22, 2009 12:06 AM
LONDON -London 2012 organizers have completed a deal to sell almost half of the housing units in the Olympic Village after the games.
The agreement with Triathlon Homes will allow them to sell 1,379 out of 2,800 homes in the east London development. Triathlon Homes is a joint venture between urban development company First Base and two local housing associations.
The Olympic Delivery Authority will receive $442 million in the deal, which will aim to provide affordable housing to workers in key fields such as nursing and teaching.
Most of the money will be provided by the government. The European Union bank is lending $156 million and Barclays Commercial bank is providing $104 million.
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2009-06-22 12:17:42
