Developers seek concessions over Olympic Park housing

The Sunday Telegraph reports that construction firm Balfour Beatty and housebuilder Places for People are seeking to force Mayor of London Sadiq Khan to renegotiate the terms of a 1,800-home housing scheme on the west side of the Olympic campus in Stratford. The developers have claimed that the scheme is not viable unless it is renegotiated, and say they have incurred £7.3m of losses since 2019 despite making £28m in sales, while the London Legacy Development Corporation, which is responsible for the management of the Olympic Park, has criticised the speed of development and argued that the developer was in default of its agreement. 

The Sunday Telegraph (09/01/2022)