My post today talks about how the Olympics were used as a catalyst to kick-start re-branding (London).
A catalyst is a factor increasing the rate of regeneration, and rebranding is when a place is improved to meet socio-economic and environmental standards.
The Olympics were used to regenerate and re-image East London, in the following ways:
Housing in east London: The old properties of east London were regenerated. New properties took their place; these properties were used to host the tourist for the Olympics. And later used by local residents.
Employment; East London had the highest rate of unemployment in the united Kingdome for about 30 years. During the Olympics 4800jobs were created in which 6000 people were employed. This had a good socio-economic impact on east London as it allowed locals a source of income further decreasing the crime rate.
Better road and high ways were constructed for the Olympics as well as shopping centres built on brown field sites, this has allowed people a better access in and out of east London. It also has attracted a range of investors to the area.
What went well:
-207 companies moved to Stratford and Lee valley to allow spaces for sport facilities now popular amongst athletes.
-The view and Landscape has improved immensely, even electricity pylons were buried undergrounds.
-Crime rates have gone down as young generation is now focusing on sports.
What didn’t go well:
-the 6000 employed have now most lost their jobs as the Olympics have ended.
-Property prices have risen preventing few of the families who couldn’t afford to return to the area.
I hope you enjoyed reading the summary; stay tuned… .