The Park, location of some of the most iconic London 2012 sporting venues - including the Olympic Stadium, the Aquatics Centre and the Velodrome (pictured) - is set to be shut down following the climax of the Paralympic Games on September 9 so it can undergo building work for future use.

The work includes the building of new homes, schools and offices as well as the restructuring of some of the arenas, including the Olympic Stadium, which will be reduced in capacity after 2012.

The work will be primarily conducted by the Olympic Delivery Authority (ODA) - the company which constructed the Queen Elizabeth Olympic Park and the venues - and despite the scale of the task, Altman said he is optimistic the site will be reopened in 2013.

"We're working very closely with the ODA, who are responsible for the restructuring of the park following the 2012 Games, with regard to the delivery of it in 2013," he said.

"That is the timetable they have been working towards and while we know it is a very ambitious timetable, they feel very confident they can deliver on that so we will have to wait and see.

"But once the park is shut down after 2012, it is obviously everyone's aim to get it back open again as quickly as we can and so sometime late in 2013 is not unrealistic."

The Queen Elizabeth Olympic Park is set to become a vibrant area of East London with up to 11,000 new homes and a number of offices to help create between 8,000 and 10,000 job opportunities in the area, Altman claimed.

Baroness Margaret Ford, Chair of the Olympic Park Legacy Company, told the Assembly she is confident the area will become a popular destination in London that will blend in well with its surroundings.

She said: "We are creating a new piece of London with family neighbourhoods, open space and events, inspired by the 2012 venues that surround them.

"It will bring together the best of London in one place and will be one of the United Kingdom's premier visitor attractions.

"However, it will be easily accessible for the surrounding Boroughs as we are working hard to make sure there is a seamless connection with the rest of East London.

"The Olympic Park will have an extraordinary set of venues and open spaces, but its soul will come from the families that use them.

"They are at the heart of our plans to create a place focused on community-living, sport and entertainment."

It is anticipated that new mixed-housing and commercial developments, inspired by the best of London's design and architecture, will be developed by 2030.

They will sit among 250 acres of open spaces, 3 kilometres of rejuvenated waterways and sporting venues.

Altman added: "This is one of the boldest urban transformations in the world, building on the best of London to become one of the city's great places."

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