The venue, at the North of the Olympic Park, will include a 6,000-seat velodrome and 400 metre BMX circuit.

 

Underneath a spectacular "floating" roof will be a glazed concourse, offering views of London's skyline.

 

The building has been designed by Hopkins Architects, who say it is intended to be lightweight and efficient - reflecting the workings of a bicycle.

 

The venue will also be linked to cycle routes across the capital.

 

The £80 million budget, one of the Olympic Park's largest, now dwarfs the original bid figure of £28 million.

 

Olympics chiefs say the concept has since been expanded to house a one-mile road cycle circuit and 6km mountain bike course.

 

These facilities, to be created after the Games, will form part of the 2012 legacy, catering for cyclists of all abilities.

 

David Higgins  the chief executive of the Olympic Delivery Authority, said: “The tremendous success of British cyclists in Beijing underlines the importance of delivering a world-class stage for elite athletes in 2012, but we are planning for Games-time and legacy together and our VeloPark plans are also looking ahead to a new generation of cyclists.

 

“As the latest designs show, the VeloPark will be one of the biggest legacies of the 2012 Games, delivering world-class facilities for cyclists of all ages and abilities to use for years to come.

 

"The Velodrome is another striking piece of architecture for the Olympic Park and together with the wider cycling facilities to be built after the Games, this will be a landmark new venue for London.”

 

Hoy, the first Briton in 100 years to win three gold medals at the same Olympic Games, said he hoped the building would boost the popularity of cycling, which is already enjoying a surge of popularity after Britain's team won a record 14 medals in Beijing, including eight gold, seven of them on the track.

 

The 32-year-old Scotsman said: "Becoming Olympic champion simply wouldn't have been possible without the local cycling facilities I used when I was growing up, so I'm delighted to help launch the designs of the London 2012 VeloPark, which will provide first-class facilities for cyclists of all ages and abilities."

 

The cyclist visited the site this morning with London Mayor Boris Johnson, Sebastian Coe, the chairman of London 2012, and Higgins.

 

Coe said: "The tremendous success of our cyclists was at the forefront of Team GB’s achievements in Beijing so I am delighted to unveil the plans for the venue where I hope our cyclists will continue to strike gold in 2012.

 

"Our VeloPark plans are driven by legacy and these facilities are not only for our record-breaking cyclists to use in 2012, but to bring a new generation of cyclists into the sport for years to come and develop the Chris Hoys, Rebecca Romeros and Shanaze Reades of the future.”

 

Johnson said the venue would be an "outstanding iconic landmark".

 

He said: "I can't wait to see the finished structure packed to the rafters, cheering on Team GB cyclists as once again they go for gold in 2012."

 

The design team, which also includes Expedition Engineering, sustainability consultants BDSP and regeneration experts Grant Associates, was chosen last summer.

 

Their initial concept has been slightly amended after consultation with local user groups and cycling experts.

 

The double-curved roof structure, to be clad in 288 exposed timber panels, reflects the geometry of the cycling track, designers said.

 

A continuous ribbon of windows underneath will allow a view of the track from outside, and offer spectators-inside a vista of the rest of the Olympic Park.

 

To make the building as environmentally friendly as possible the design uses daylight to reduce electric lighting and allows natural ventilation.

 

Water saving fittings allow the collection of rainwater for use inside.

 

Construction is due to begin next spring by builders ISG.

 

The release of the plans follows the opening of the £4.5 million Redbridge Cycling Centre last month.

 

This replaced the Eastway Cycle Circuit. which was demolished to make way for the Olympic venue.

 

Peter King, the chief executive of British Cycling said: "British Cycling is pleased to see such high quality facilities being built for London 2012.

 

"The VeloPark will provide a first class facility both for the Games and to encourage community and competition participation in cycling - and of course it brings a much needed indoor velodrome to the region.

 

"British Cycling has worked closely with everyone involved to ensure the best possible solution was found for this site, in combination with the recently-opened centre at Redbridge.

 

"These are exactly the sort of facilities we need to allow the sport of cycling to grow and help to continue the recent success achieved by the GB Cycling Team in Beijing .”