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Lend Lease Tapped for Multibillion Development

LONDON-Lend Lease Corp. Ltd. will be the preferred development partner for Zones 2-7 of Stratford City, which includes the 2102 Olympic Village.

By Brian K. Miller | Updated on March 05, 2007

LONDON-A team led by Lend Lease Corp. Ltd. has been selected as the preferred development partner for the multibillion-dollar revitalization of Zones 2-7 of Stratford City, 180 acres of former railway marshalling yards located five miles north east of Central London. The team, which includes First Base Ltd and East Thames, was selected for the 13-year project by London & Continental Railways Ltd. and the Olympic Delivery Authority. A formal development agreement still must be negotiated.

The US$3.84-billion (2 billion-pound) first phase of the project involves the development of approximately 4,200 residential dwellings and related accommodation that will become the Village for the London 2012 Olympic Games. Lend Lease will be responsible for all aspects of the project including funding, design and construction, and marketing and sale of the completed product. Construction for the first phase is expected to start in 2008, with handover to the ODA in late 2011.

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