In 2009, at the time work began on the construction of the velodrome, the estimated cost of that facility alone was £105 million. Work on the Velodrome was completed in February 2011. The Velodrome was the first Olympic Park venue to be completed.
The roof is designed to reflect the geometry of cycling as well as being lightweight and efficient reflecting a bike. There is also a 360 degree concourse level with windows allowing people views of the Olympic Park. The Velodrome is energy efficient with roof lights reducing the need for artificial lights and natural ventilation reducing the need for air condition, rain water is also saved cutting the amount of water used. Designer Ron Webb who designed the Velodrome tracks for the Sydney and Athens Games was in charge of the design and installation of the track. The track was made with 56 km of Siberian Pine and 350,000 nails.
The Velodrome was officially opened by many successful British athletes including Chris Hoy and Victoria Pendleton. It is informally known as "The Pringle" due to its distinctive shape. It was shortlisted for the 2011 RIBA Stirling Prize and won the 2011Structural Awards Supreme Award for Structural Engineering. The venue will be used for the first time in competition during the UCI Track Cycling World Cup Classics in February 2012. The velodrome will also be used for the 2012 Paralympics.
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