London's 2012 Olympic Stadium

The price tag for this monolith, to be erected in Stratford, just east of London, is 496 million Pound Sterling, and that amounts to over a billion US dollars. It will be the centerpiece of the Olympic Park, and be set on an island, accessible via pedestrian bridges and ticket turnstiles and security checks will be performed well away from the building.

Once the Olympics are finished, the stadium will be scaled back to 25,000 seats and serve as a multi-purpose venue with a focus on athletic events. There are no plans to bring a franchise in the Premiership to this location.

The U.K. Telegraph has more on this, including a preview video.