£100m secured for UCL East as part of East Bank

UCL has secured £100 million from the Government towards the capital cost of building our new campus, UCL East. The final confirmation of the funding was announced as we showcased UCL East and our current east London projects during a launch event hosted by the Mayor of London to unveil the vision for East Bank (previously the Cultural and Education District). East Bank will be a new destination for London with world-class culture and education at its heart. As one of the founding partners - along with UAL's London College of Fashion, Sadler's Wells, and the V&A including a partnership with the Smithsonian Institution - UCL is receiving the majority share of the Government's £151m contribution to the project. The Mayor of London, Sadiq Khan, said: "Great cities are defined by their ambition as much as their achievements - East Bank is the most ambitious new project of its kind for decades. I have made culture a top priority, and as London's centre of gravity has moved east, I'm delighted that we're placing culture and education at the heart of this development and the Olympic legacy." This is another significant milestone for UCL East and follows other news that the BBC is joining the list of world-class culture and education institutions that will form East Bank, by creating a new home for the BBC Symphony Orchestra & Chorus and BBC Singers. As the partners unveiled their building plans, the Mayor made a commitment that at least 50 per cent of new homes across the remaining development sites on the Park will be affordable.