A creative and digital cluster, aiming to become "London's home for making", is due to be developed at the former Press and Broadcast Centres after the London Legacy Development Corporation completed a lease agreement with Here East today.
The development on the Queen Elizabeth Olympic Park, which BT Sport is already broadcasting live from, will provide 1.2 million square feet of space for creative businesses that will be supported by an advanced digital infrastructure, with almost unlimited bandwidth connectivity and the highest capacity power.
Here East claim the area will provide a number of employment, training and education opportunities, including 7,500 jobs - 5,300 on-site and a further 2,200 in the local community through the impact of using local supply chains and new business generation, as well as an additional 2,100 jobs during the construction phase.
"Today is the culmination of years of hard work to deliver a long term legacy for the Press and Broadcast Centres," Dennis Hone, outgoing chief executive of the Legacy Company, said.
"It is a giant step towards creating a world-leading creative and digital cluster in the heart of Queen Elizabeth Olympic Park.
"Following the successful opening of the south of the Park last month, we are well on our way to creating a new heart of east London - bringing jobs, skills and training opportunities to local people."
Here East revealed Laing O'Rourke as its preferred contractor, with work due to get underway in August.
Loughborough University, Hackney Community College and Infinity SDC are expected to locate to Here East from 2015, while the entire development will be fully operational by 2018.
The development is also set to host the first flagship Maker Faire to take place outside of the United States in summer 2015.
"We are delighted to have finalised the agreement to deliver a world-class digital cluster for London and the world's most creative companies," Here East chief executive Gavin Poole said.
"Employment and education have been central to our vision since day one, and today's agreement moves us closer to delivering thousands of jobs, education and training opportunities for local people."
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