According to a report by the Associated Press, organisers of the London 2012 Olympic Games have completed a deal to sell almost half of the housing units in the Olympic Village after the games.
The organisers have reached agreement with Triathlon Homes that will allow them to sell 1,379 out of 2,800 homes in the East London Olympic development area. Not specific to the sport of triathlon, Triathlon Homes is a three way joint venture between urban development company First Base and two local housing associations.
Under the terms of the deal, the Olympic Delivery Authority will receive US$442 million (€315 million), which will aim to provide affordable housing to workers in key fields such as nursing and teaching.
Much of the money for the deal will be provided by government. The European Union bank is lending US$156 million (€111 million) and Barclays Commercial bank is providing US$104 million (€74 million).
