London's Olympic Site to be Transformed into Arts Hub

Chancellor George Osborne has announced the site of the 2012 Olympics in London will be converted into a new arts and cultural hub for the city. Planning to invest £141 million GBP (approximately $220 million USD), east London will soon feature a new Sadler’s Wells dance theater, a V&A museum and exhibition space, and two university campuses dedicated to arts, design and engineering. The British government expects this arts hub, dubbed “Olympicopolis,” will create up to 3,000 jobs, attract 1.5 million extra visitors and generate £2.8 billion (approximately $4.4 billion USD) of economic value to Stratford and the surrounding area.