The project will be based around the National Stadium andWembley Arena. Designed by Richard Rogers Partnership, plans forthe 10-year project include more than 700,000 sf of offices,366,000 feet of retail and 300,000 sf of leisure facilitiesincluding restaurants and bars. A 400-room hotel and 3,700 homesare also part of the plan.

"We are very grateful for the support of the mayor of London,"says Nick Shattock, director of Quintain Estates and Development,"and we are pleased that we are already well advanced with theSection 106 agreement. We're firmly on track to start on site thisautumn."

The public regeneration specialist is also part of a consortiumredeveloping the Millennium Dome and surrounding land in Greenwich.It bought the 44 acres of the Wembley site, including the Arena andConference & Exhibition Centre, for €72 million ($88 million)in August 2002 and then paid €27 million ($33 million) for afurther 11 acres including the Palace of Arts and Palace ofIndustry.