Mayor Karen Bass Accepts the Olympic Flag
Mayor Karen Bass accepted the Olympic flag at the Paris closing ceremony. This “passing of the torch” signifies LA is ready to take on the Olympics and Mayor Bass explains how.
What You Need to Know
The 2028 Olympics will bring millions of visitors to Los Angeles.
To manage the influx of visitors while reducing traffic, Mayor Bass aims for a “no-car Games.”
Transportation and Traffic Concerns
She plans to encourage public transportation to reach venues across the city, from SoFi Stadium to Santa Monica. The plan includes expanding public transit and bringing in 3,000 buses to help with transportation.
Bass plans to meet with major employers in Southern California to discuss work options.
For example, businesses going remote for a certain amount of time. A strategy that worked during the pandemic.
In 1984, staggered work schedules helped ease traffic, so maybe similar measures could return in 2028.
Venues
Venues for the Games will mostly use existing structures, avoiding the need for new construction.
SoFi Stadium will host the opening ceremony and become the largest Olympic swimming venue ever.
Other key sites include the soon-to-open Intuit Dome for basketball and Crypto.com Arena for gymnastics.
The Long Beach waterfront, known for its improving water quality, will host marathon swimming and triathlon events.
Safety and Security
The Olympics will be designated as a national special security event, with the U.S. Secret Service leading the security plan.
The city is also grappling with its homelessness crisis, a challenge that was highlighted during the Paris Games.
Paris relocated thousands of people experiencing homelessness in preparation for the games.
Recently Governor Newsom threatened to withhold funding from cities unable to clear encampments.
How It Impacts You
The Olympics brings opportunities and challenges for our industry.
More visitors could mean higher demand for retail and hospitality spaces near event venues.
This could also lead to short-term leases as businesses look to benefit from the visitor influx.
However, with the push for remote work and public transit, office spaces might see reduced occupancy during the Games.
With security being a concern, properties should prepare for any crisis event that could unfold.
Property managers should be ready to adapt to these changes and consider how to position their assets with possible infrastructure improvements.
Stay Connected
Stay connected with BOMA on the Frontline for updates on how LA will prepare for this huge event. Staying informed will be key to navigating the 2028 Olympics’ impact on the industry.
