Los Angeles Prepares for Global Events with Major Infrastructure Overhaul
As Los Angeles prepares to host the 2026 FIFA World Cup and the 2028 Olympic Games, the city is embarking on a major initiative to revitalize its streets and parks.
What You Need to Know
Mayor Karen Bass has signed an executive directive to streamline infrastructure upgrades across Los Angeles in preparation for the 2026 FIFA World Cup and the 2028 Olympics.
Key highlights include:
- A centralized system replacing various working groups
- A single committee of general managers from nine city departments
- Coordinated maintenance and development of street projects
- A multi-year investment plan for infrastructure
Currently, the city spends $860 million each year on infrastructure but does not have a complete inventory.
This new initiative aims to tackle problems like stolen copper wire, damaged sidewalks, and the need for bike lanes.
How It Impacts You
Upgraded infrastructure can increase property values for our members.
Features like parks, bike lanes, and pedestrian-friendly areas can make neighborhoods lively. This in turn leads to more foot traffic, boosting your properties' appeal.
This can also lead to better tenant retention and fewer vacancies.
However, infrastructure upgrades may cause construction impacts. Property managers should stay informed and communicate with tenants about possible disruptions.
Stay Connected
Staying knowledgeable will help property managers capitalize on these improvements while managing potential challenges.
Stay connected with BOMA on the Frontline for updates on how Los Angeles is preparing for the Olympics.
