Half of the 2,800 flats in the Olympic Village, plus six plots of land that offer the potential to construct 2,000 more homes and 10 hectares of parkland, were sold off in August 2011. A Qatar sovereign investment fund bought this property at the lowest point of the recession. The loss to taxpayers was upwards of £300m. Included in the sale was the value of additional sites with future development potential.
“Newham badly needs more aspirational housing to build upon the interest in the area from the Olympic Games” Newham Housing Market Assesment 2010, p204.
“The key to contemporary urban living must include thoughtful and genuinely useful amenities. In order to make living at Manhattan Loft Gardens a truly unique experience, much consideration and effort has been directed towards the services offered, from the pool and gym to private al fresco dining in the 7th- and 25th-floor gardens.” Harry Handelsman, Founder, Manhattan Loft Corporation
“Attention was drawn to the significant number of empty homes in Newham…” Stakeholder Workshop, p203, Newham Housing Market Assessment. 2010