A FUN DAY to celebrate the official opening of Walthamstow's Arcade site takes place today.

Attractions include children's entertainers, face-painting, a bungee run, a football competition, a climbing wall and more.

Visitors will can also suggest more ideas for the site, located on the corner of Hoe Street and High Street.

Chris Robbins, council leader, said: "We could have specialist markets, sports events, theatrical performances or even a temporary ice rink in the winter."

The council has admitted that residents may have to wait up to three more years for work on the area's permanent development to begin.

The council has bailed out the development with £35m of borrowed public money, after developer St Modwen decided it could no longer fund it due to the recession.

The latest plan would see a scheme with a swimming pool as an "anchor tenant" to attract business to the area.

Today's event runs from 11am to 3pm and is free.