The Sheffield Olympic Legacy Park outlined plans at a virtual conference today, hosted by former Sports Minister and Park lead Richard Caborn.

The projects are claimed to be worth more than £200 million ($274 million/€225 million) and will deliver 5,600 jobs at the park, which is hoped will provide a boost to the post-pandemic and Brexit economy of the city.

A community arena will form part of the first £100 million ($137 million/€112 million) development phase of the project, with the facility featuring three indoor basketball courts.

The venue will be the new home of the Sheffield Sharks basketball team.

The Community Arena will also house a new, world-class diagnostic imaging lab and research centre for Canon Medical Systems Europe.

The centre is expected to deliver a state-of-the-art research hub for product development including artificial intelligence, which is expected to increase the speed and accuracy of diagnostics for the National Health Service.

A 3,900-capacity legacy community stadium also forms part of the first phase of the development, with work scheduled to begin next month.

The stadium is being developed by Scarborough Group International, with the facility expected to be delivered by February 2022.

It will become the new home of Sheffield Eagles Rugby League, as well as providing business and conference space.

The CCHT is also set to be delivered as part of the project, with the centre billed as the first of its kind in the world.

The centre aims to develop technology to address key national strategic priorities in child health including childhood obesity, child and adolescent mental health, long term conditions and prevention.

The centre is expected to help the United Kingdom become a global leader in paediatrics and child health.

"Investing in the health and healthcare of children and young people makes sense - our future in fact depends on it," said Paul Dimitri, Professor of Child Health and Director of Research and Innovation at Sheffield Children’s NHS Foundation Trust.

"The CCHT will create over 100 high value jobs, and its co-location with the Oasis School and University Technical College will provide research and employment opportunities in the future.

"Overall, we predict that the CCHT alone will generate £30 million ($41 million/€33 million) in research funding, attract £50 million ($68 million/€56 million) in private sector investment and will deliver over £200 million ($274 million/€225 million) in savings to the NHS in the next 10 years."

The Sheffield Olympic Legacy Park was set up following the London 2012 Olympic and Paralympic Games.

The park was constructed on the site of the former Don Valley Stadium.

The English Institute of Sport Sheffield, Oasis Academy Don Valley and the National Centre for Sport and Exercise Medicine are all based at the park, which also includes the FlyDSA Arena for ice hockey, iceSheffield and a stadium with a 3G pitch.

"Sheffield Olympic Legacy Park continues to deliver a comprehensive approach to providing the solutions to the major healthcare and economic challenges of our times," said Caborn.

"It is a catalyst for investment and regeneration and attracting the very best translational research and development technologies and skills to the Sheffield City Region which will have a huge impact nationally and internationally."

An Advanced Wellbeing Research Centre (AWRC) was also opened at the park earlier this year.

The centre features facilities enabling research on health and physical activity in collaboration with the private sector, charities and the community.

"The Sheffield Olympic Legacy Park is perhaps the best physical representation of the ideals of a health legacy from the Olympic Games anywhere in the world," said Professor Rob Copeland, AWRC director.

"The Park brings together community, physical activity, research, education, sport, technology and innovation to transform health and wellbeing.

"The importance of the nation's health and wellbeing and its links to economic prosperity has never been more obvious.

"With the assets and partners located on Sheffield Olympic Legacy Park, we are well positioned to lead the research and innovation agenda to improve the health and wellbeing of our nation."

The masterplan, produced by Scarborough Group International, will see a further 850,000 square feet of real estate development at the park over the next five years.

The Sheffield Olympic Legacy Park is a collaboration between the Sheffield City Council, Sheffield Teaching Hospitals NHS Foundation Trust, Sheffield Hallam University, Sheffield City Trust and Sheffield Children’s NHS Foundation Trust.

South Yorkshire and Bassetlaw Integrated Care System, Yorkshire and Humber Academic Health Sciences Network, and Darnall Well Being are also part of the collaboration.