The full 50 million pounds it will take to construct the space will be provided by asset-management company Venus, saving the city from any expense. But in return, Venus will be allowed to rent pavilions in the space and a prime vantage point for TV cameras during the upcoming Olympics:
"In this it is the latest example of a widespread type of the 21st century, the pseudo-public space, in which the City of London and its satellites are world leaders."
"In each the shapes and attributes of town squares are imitated – an oblong or round shape, outdoor art, cafe tables, fountains – and sometimes real public assets are created, but ultimate control is in the hands of private landowners."
