It is probably the most headline-grabbing piece of news expected to come out of George Osborne’s Autumn Statement.
The chancellor is expected to announce a £141million investment into the Olympic Park.
The project will include a theatre, museum and two university campuses in what is being described as a ‘new arts quarter’.
The space has already been given the nickname of the “Olympicopolis”.
If it were to go ahead, the scheme is predicted to deliver 3,000 jobs and attract 1.5 million extra visitors to the capital.
Other projects that are predicted to benefit from the Autumn Statement:
Deputy Mayor for Transport Isabel Dedring told London Live that the department were "delighted" that the Chancellor has listened to their requests and expect good things from the Autumn Statement.
The news comes as 500 more buses are planned to hit London's streets.