Speaking to the official site Allardyce said the move is a huge positive for the club.
“Friday’s news that West Ham United have been confirmed as the Olympic Stadium’s anchor tenant, is for me, one of the biggest and most positive developments in the history of the club.
“West Ham are a traditional, community-based club with a rich history but the opportunities to create a new legacy by moving the few miles along the road to Stratford, are limitless. By going into the Olympic Stadium, this club has an opportunity to develop and grow bigger than it’s ever been before.
“We will be moving into a stadium that already has its own history and legacy. No-one will forget the great moments that happened there during the Olympics.
“People around the world watched on their TV screens last summer and were suitably impressed by the venue and the organisation which went into making the Olympic events there so memorable. Now we are going in there to forge our own memories and history in that unique stadium within the Olympic Park.
“And it’s not just the stadium. Everything around it, the infrastructure, supports the move. A once run-down area is new, vibrant and has everything you need to help you enjoy a day out. It has restaurants, shops, the transport system is good - ideal for example, if you want a family day out.
“The move will also have terrific and positive implications for the surrounding area, in view of development and jobs. I’ve seen the designs and my opinion is that, once all the development is completes, it will be one of the best stadiums in the country along with Wembley and the Emirates. There will be slightly bigger stadiums around but, as they say, size isn’t everything.
“I still believe the Reebok at Bolton is still one of the best venues in English football yet its capacity is less then 29,000. Not only was it a superb football stadium when it was built but it was also all-encompassing as far as the local community was concerned. It has function rooms of varying sizes, it had executive boxes - a hotel. The Olympic Stadium will be almost twice as big and, from what I understand, will also have great facilities.
“There have been understandable concerns amongst the West Ham supporters about the distance between the pitch and the spectators but the retractable seating should solve that problem and, in some cases, put the fans nearer to the action than Wembley Stadium.
“There is nothing I can see that is negative about this move. It could take a little while for the team to settle down in their new environment but I don’t see that as a big problem - it’s natural until everyone becomes accustomed to their new home.
“From a football point of view as well, it will be important that we learn from other new stadiums and do our homework on the playing surface.
“I know West Ham have already been speaking to a number of top clubs such as Arsenal, because their pitch is as near perfection as you can get.