Olympic officials are now taking bids for the future use of the vast 2012 London Games' media center.

The company overseeing the planning and development of Olympic buildings after the games hopes the site will become a center for creative and high-tech industries.

Andrew Altman, the chief executive of the Olympic Park Legacy Company, says he thinks the timing for the project is excellent despite the economic downturn. Altman says the new hub is unique, and that there is commercial interest in the new space.

The 1 million square feet (about 93,000 square meters) of space will be used by reporters and broadcasters during the games, which begin July 27 and end Aug. 12.