London 2012 - Will it be regeneration or renaissance in times of financial crisis?
Start date: 6 July 2009
This paper is part of a PhD study, in its final stages, focussing on the ‘regeneration’ that is proposed for the residents in the area of the Olympic Park developments in the Lower Lea Valley in London. The study is based upon the detailed examination of two past Games and their impacts upon the local residents to the Olympic venues, in Sydney, 2000 and Barcelona 1992. The study evaluates the impacts of the planning for London 2012 to date on the local residents through in-depth, semi-structured interviews. These interviews have been undertaken with planners, government officials, residents and community representatives. An interpretive analysis with emerging themes has highlighted ‘what is community?’, ‘difficulties in stakeholder identification’, ‘what constitutes legacy’, ‘issues with forward planning and ‘problems in communication’. This study also examines the impact of the global credit crisis upon the legacy planning and highlights some of the impacts already being seen with regard to the changes being made by the Olympic Delivery Authority to the original bid documentation. One of these changes includes problems in raising finance for the Olympic Village where the private developers, Lend Lease, have failed to raise bank finance thereby forcing the UK Government to use public funds and the ongoing impacts such difficulties may have in the future on legacy planning for the ‘local’ community.
Key words: legacy identification, regeneration, forward planning, stakeholder identification, credit crisis