Olympic Village shortlist announced

The shortlist of companies to develop and maintain the Olympic Village after the Games, which could potentially include 3,500 new homes, has been announced by the Olympic Delivery Authority (ODA).

Despite various bids, no new home builders are on the shortlist. Instead three private sector investors, Delancey & Qatari Diar, Hutchinson Whampoa and Wellcome Trust, have been selected. A final decision on a winner will be made this summer.

The failed bidders are Galliard Homes, Grainger, Urban Splash, Lefrak, Dorrington and Pinnacle and David Wilson.

The ODA owns 1,439 homes on the site which will become private housing, along with six plots which offer the potential for another 2,000 new homes.

ODA Chief Executive Dennis Hone said: "The quality of the three shortlisted parties is a vote of confidence in the Olympic Village, demonstrating both UK and international interest in first-class British property.

"The Village will deliver the best of city living all in one place with high-quality new homesjoined by education and healthcare facilities, new parklands, public squares and open space. Securing best value and the best legacy owner for the Village will be key."