The Olympic Park Legacy Company will build a one mile road cycle circuit and around 8km of mountain bike trails around the existing Velodrome to create Lee Valley VeloPark in the north of the Park.
The road cycle circuit will cross the River Lea in two places and be framed in the south by wetlands, park spaces and tow-paths for walkers and cyclists to enjoy.
The Legacy Company applied to amend the original layout for the circuit in December last year in order to provide better public access to riverbanks as well as creating a new Park for Hackney which will bring people together through small scaled events.
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The designs were agreed by British Cycling, Sport England, Hackney Council and Lee Valley Regional Park Authority - who will own and operate Lee Valley VeloPark after the Games - while closely consulting with users including Eastway cyclists.
The Legacy Company aims to complete the VeloPark by the end of 2013.
Andrew Altman, Chief Executive of the Olympic Park Legacy Company, said: "Lee Valley VeloPark will be a stunning addition in the Queen Elizabeth Olympic Park for everyone to enjoy. By working closely with our partners we have planned an even better legacy that will not only benefit cyclists, but also thousands people from across East London who will be connected through a new park space.
"It is because our legacy plans for the Park are more advanced than any previous host city that we have been able to make improvements that will complement our more recent designs for new neighbourhoods and open spaces."
Mayor of Hackney Jules Pipe said: "We are pleased that a plan has been approved which will deliver a world class VeloPark and also fulfil the commitment to create high quality, coherent parkland for use by all of the communities of Hackney and the Host Boroughs.
"The scheme will allow Hackney residents continuous access to the banks of the River Lea for the first time, connect the Olympic Park to Hackney Marshes and provide exciting green spaces for our communities to come together and enjoy."
(CD/GK)
