Olympic Opportunities for the CRE Industry

LA28 has released its updated plan for the 2028 Olympic and Paralympic Games, highlighting the use of existing stadiums and arenas across the Los Angeles area.  

What You Need to Know 

The opening ceremony will take place simultaneously at LA Coliseum and SoFi Stadium. 

Multiple existing venues will be used, including Crypto.com Arena, Dodger Stadium, Honda Center, Universal Studios Lot, Dignity Health Sports Park, Exposition Park, LA Memorial Coliseum, Peacock Theater and the University of Southern California (USC).

Long Beach, Venice Beach, and the Valley's Sepulveda Basin Recreation Area will be used to host events as well. 

By using existing venues and limiting new construction, LA28 expects to save over $150 million and support long-term sustainability goals. 

How It Impacts You 

For Property Managers and Owners: 

• Increased Demand for Commercial Spaces - The arrival of athletes, media, and fans will increase demand for hotels, shops, and services. Buildings near venues may see more tenants and rental values. 

• Infrastructure Enhancements - Expect better transportation and public services near venues, which could raise property values and attract more tenants. 

• Opportunity for Long Term Tenancy - After the Games, better infrastructure and global attention could bring new businesses and residents, creating chances for long-term leases and development. 

For Service Providers: 

• Contracting Opportunities - Preparing for the Games will need help with building, repairs, security, and planning. Working with organizers and local officials could lead to new contracts. 

• Brand Visibility - Being part of the Olympics can boost brand visibility. Service providers can use this chance to market themselves and stand out in busy areas. 

• Networking and Partnerships - The Games will bring many stakeholders together. Joining events and meetings can help build partnerships and grow your business network. 

Stay Connected 

Planning ahead can help you make the most of the opportunities from the Games. 

Stay connected to BOMA on the Frontline for updates on the Olympics and its impact on members.