| Credit Crunch hits Olympic building |
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| Friday, 26 September 2008 | |
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Culture Secretary Tessa Jowell has told Sky News there may have to be 'concessions' in the building of the Olympic Village due to the credit crunch.
The warning comes a day after the chairman of the Olympic Delivery Authority John Armitt admitted there was difficulty in securing private sector funding for the Olympic village and media centre. The Olympic Village will provide 17,000 beds for athletes and officials during the Olympic Games and 7,500 in the Paralympic Games. After 2012, it will leave the legacy of up to 3,500 new homes, many of which will be affordable, with the new communities supported by new parks, open space, community facilities and transport links. |
