IOC Chooses London as 2012 Olympic Host

NEW YORK CITY-The International Olympic Committee has selected London to be the host city for the 2012 Olympic Games. Paris was the runner-up, followed by Madrid, New York City and Moscow.

“For the Olympic Games of 2012, the Olympic Movement has received candidatures from five prestigious cities, all perfectly capable of organizing Games of the highest quality,” said IOC president Jacques Rogge.

Earlier this year, at Mipim, London Mayor Ken Livingstone unveiled a 10-billion-pound ($19.3-billion) infrastructure improvement package for the city. “We want to win the bid,” he stated, “but this funding is there for future potential. The Olympics are an add-on to what we would have done in London anyway.” Projects included additional rail lines to unify the sprawl and a continuation of affordable and market-rate housing among other initiatives. Multiplex, Stanhope, Westfield and LCR agreed on terms with the London Development Agency to build the Olympic Village and Olympic International Zone in Stratford City. The village will provide accommodation for 17,000 athletes and support teams, which would be transformed into 2,300 homes following the games.