The London Legacy Development Corporation has approved iCITY's plans to develop former press and broadcast centres at Queen Elizabeth Olympic Park into a £355m digital business hub.
iCITY has also revealed that the East London development will be named Here East, and it intends to select the preferred project contractor in March and start construction this summer.
Here East is being developed by iCITY, a joint venture between Delancey and Infinity SDC.
Here East will have over one million square feet of space and house three main buildings.
The facilities include a 300,000ft² innovation centre, a 1,045 seat auditorium and a 850,000ft² building with educational space, broadcast studios, office space and a data centre.
Here East will feature several indoor and outdoor green spaces, including allotments, urban orchards and green roofs with insect hotels, providing facilities and space for workers and local residents.
A gridded structure is planned to be developed on the east elevation, which will provide a platform for individual, small-scale structures, housing start-ups and small local businesses.
Plans also include the creation of a new yard between the former press and broadcast centres that will be an adaptable space for various activities like film screenings, community and celebratory events.
iCITY CEO Gavin Poole said: "As well as creating thousands of jobs and training opportunities, Here East will provide state-of-the-art infrastructure and capacity for the fastest growing sectors of the UK economy to continue their impressive expansion."
Key tenants Loughborough University, Hackney Community College and Infinity SDC will move in by 2015, and the entire project is expected to be fully operational by 2018.
BT Sport is already broadcasting live from the site with a 80,000ft² production hub.
Hackney Mayor Jules Pipe said: "This approval represents a major step towards ensuring an Olympic legacy for Hackney, which will unlock the full potential for regeneration and investment in this part of the borough."
Image: Here East will feature over one million square feet of space and house three main buildings. Photo: courtesy of London Borough of Hackney.