From next month, developers can bid to build up to 800 homes in the picturesque area sitting between the VeloPark and the Athletes Village in the north-east of the Park. The development will be a mixture of flats, mews houses and town houses with 60 per cent providing family houses.

The neighbourhood, which will be developed from 2013, will be centred around 3,000 sq m of community and ancillary facilities including a polyclinic, two nurseries and a community centre. The homes will be served by Chobham Academy school, which will open as part of the 2,800 unit development in the neighbouring Athletes Village.

It will be the first of five new neighbourhoods to be developed in the future Queen Elizabeth Olympic Park over the next 20 years, accommodating up to 8,000 new homes with up to 35% being affordable housing – in-line with the Mayor’s London Plan.

Margaret Ford, Chair of the Olympic Park Legacy Company, said:

“This is the most exciting neighbourhood development opportunity in the UK. We will be looking for an exceptional developer who shares our vision to bring together the best traditions of London’s architecture and design to create a real family environment.

“With world-class 2012 venues, cultural attractions and fabulous parkland, the Queen Elizabeth Olympic Park will be a great place to bring up a family.”

Mayor of London, Boris Johnson, said:

“Our spectacular Olympic Park with its world-class sporting venues is already changing the landscape of East London and delivering a legacy for London. This major milestone signals the dawn of creating a brand new district rising in the capital where communities will be created around excellent facilities and new infrastructure.

“It comes during one of the most exciting times in London’s history, when the world’s attention will be focused on the capital. My message to investors looking for long-term rewards is that this is just one of a myriad of similar opportunities that will arise in our great city in the coming years so keep your eyes on London.”

The north park will be one of the most charming areas in London with landscaped green space rolling into a river valley. There will be new routes, links and opportunities for walking, leisure and fun by the water, with great care taken not to disturb the natural ecosystem. Cycle paths will be a feature of the Park and compliment the nearby VeloPark with its indoor Velodrome, BMX and mountain biking trails and road cycle circuits.

The new neighbourhood will be within walking distance of Stratford International station and Stratford Regional station, with nine rail lines linking the area to London, the UK and Europe.