The race to bring the Olympics back to LA for the 2024 summer Games is on, and today we're getting a closer look at where the estimated multi-billion-dollar cost would actually go—and what changes the Olympics will bring to local venues and the city in both the long- and short-term. The official bid book, via KPCC, shows all the nuts and bolts of the $4.1-billion plan to host the event, including dramatic plans for the LA Memorial Coliseum and a resolution for a long-contested plot of land along the Los Angeles River.
Here's what we learned from the bid:
· The necessary upgrades and alterations to existing venues would cost $713 million.
· One of those sites, the in-the-works soccer stadium that will be built for a new MLS club on the site of the old Sports Arena, would be temporarily converted to host aquatics events for at least 20,000 viewers.
· That cost doesn't include the $300 million that would go toward getting the neighboring Los Angeles Memorial Coliseum up to snuff to become the Olympic Stadium. (USC's going to drop $500 million into renovating the Coliseum starting in 2017 too, says the LA Times.)
· Proposed additions to the Coliseum, according to the bid book, would include the creation of private suites and the addition of a roof to shade spectators.
· The Olympic Village that will house the athletes is proposed for the Piggyback Yard site along the LA River (mentioned by its formal name, the Los Angeles Transportation Center), which river revitalization activists have eyed for years. Developers would take the lead on the project, with Olympic organizers kicking in $75 million.
· The bid book notes that after the Olympics, these units would be "renovated to meet their final residential requirements" and then sold and rented as a mix of affordable and market-rate housing, essentially becoming a whole new little neighborhood.
· This bid book also has a new notable addition: a proposed cluster of events in the usually ignored Valley. The media hub for the Games would be on the NBCUniversal lot in Universal City and several events, including archery and the pentathlon, would go down at venues in the Sepulveda Basin Rec Area in Encino.
· Los Angeles projects $161 million surplus if it gets 2024 Olympics [SCPR]
· Financial details of L.A.'s bid for 2024 Olympics revealed [LAT]
· Here Are LA's Huge Plans for the 2024 Olympics [Curbed LA]
· 2024 Olympics Are LA's If It Wants to Promise a Lot of Money [Curbed LA]
· LA's New Soccer Team Reveals Blockbuster Stadium Plan For Exposition Park [Curbed LA]