Triathlon Granted EIB Loan To Create Olympics Village Housing

Fri, 26 Jun 2009

Triathlon Homes has secured a £95m loan from the European Investment Bank (EIB) to help create accommodation for the athletes participating in the 2012 Olympic Games in London .

Triathlon, which is a partnership between housing associations Southern Housing Group and East Thames Group and developer First Base, will use the investment to buy more than 1300 flats that will result from the Olympic Village site in East London .

The homes will also provide surrounding infrastructure and community facilities, which will support the development plans of the neighbouring London boroughs for the Olympic Games .

Once the 2012 Games have come to an end the accommodation will be restructured to provide social and affordable housing as part of the Government’s plan to provide a lasting legacy from the Olympics .

Simon Brooks, EIB vice president for UK lending activity, said: ‘The creation of sustainable communities is a key lending objective for the EIB."

"The bank is particularly encouraged by the high environmental standards in place in the Olympic Village development and we are confident that this project will have a significant positive impact on the quality of life of the families and individuals who will live in there following the Olympic Games in 2012 ."
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