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The OPLC, which last month signed a deal under which it would own the bulk of the land on which the Olympic park is being built, has until now had no official say over the future of the massive development designed to house athletes during the Games.

Half of the homes will be given to a consortium of housing associations to turn into affordable housing, but it is unclear what will happen to the remainder, which are being developed by the Olympic Delivery Authority (ODA).

Under the new deal, the OPLC and ODA will join forces to form a joint management board to work out the strategy for homes after the Games. This will be chaired by OPLC chief executive Andrew Altman. However, final decisions regarding the village will remain with ODA chief executive David Higgins.

The OPLC and ODA will form a joint management board to work out a strategy for after the games

The commercial success of the athletes’ village is seen to be vital for determining the viability of the later development of 10,000 homes on the remainder of the park.

with concerns that the sale of 1,400 homes in a short space of time could damage values in the area.