The Mayor of London Boris Johnson has today revealed that private backers have pledged an initial £45m towards the realisation of his Olympicopolis project at Queen Elizabeth Olympic Park.
Olympicopolis aims to create a world-leading cultural and educational legacy for east London in the wake of the 2012 Olympic and Paralympic games, and will create 3,000 jobs, attract 1.5m visitors a year, and deliver a £2.8bn boost to the economy of Stratford and the surrounding area.
The funding is in addition to £141m already committed by the Chancellor George Osborne. The Mayor is now calling for further private donors and corporate supporters to get behind the project, which is to be developed on Stratford Waterfront next to the Aquatics Centre and the ArcelorMittal Orbit.
Inspired by South Kensington’s Exhibition Road and the Southbank Centre, which were born out of the 1851 Great Exhibition and the Festival of Britain, Olympicopolis is bringing world class institutions to the park, including the Victoria and Albert Museum, the University of the Arts London, Sadler’s Wells and the University College London (UCL). The aim is to showcase, encourage and produce exceptional art, dance, craft, science, technology and cutting-edge design. The Mayor and the London Legacy Development Corporation have also held discussions around a potential partnership agreement with the world renowned Smithsonian Institute in Washington DC.
The Mayor of London Boris Johnson said: 'Olympicopolis will bring some of the world's leading institutions in culture and education to the heart of Queen Elizabeth Olympic Park, helping ensure its status as an internationally significant destination for Londoners and people from across the globe. But we want it to do much more than that. As well as being a magnet for domestic and international visitors, the Foundation for FutureLondon's activities will ensure that strong links will be forged with local communities so that they benefit in the long term from the creation of new jobs and the realisation of new cultural and educational opportunities.'
Sir William Castell has been appointed chair of the Foundation for FutureLondon, which is dedicated to generating philanthropic support for the project. Sir William joins from the Wellcome Trust, one of the UK’s largest fundraising bodies. The charity also has the support of Her Royal Highness, The Princess Royal, as its patron.