Lend Lease Shortlisted for $8B Olympic Site

LONDON-Consortiums led by Lend Lease, Royal Bank of Scotland and French builder Bouygues have been shortlisted to build the euro 5.9-billion ($7.58-billion) Olympic Village, the Stratford City development in east London that will be home to 15,000 athletes. The site will consist of around 4,500 permanent homes, one million sf of office and leisure facilities, parking lots and hotels. The retail portion of the development will be developed by Australian shopping center giant Westfield.

Officials from site owners London & Continental Railways and the Olympic Delivery Authority say the winning bidder will start work next year. The Lend Lease consortium includes East Thames Group, First Base and Crosby Homes while Bouygues, the world’s second-largest construction company, has teamed up with UK homebuilder Barratt Developments.