Olympic Venue Ballot Measure: What CRE Professionals Need to Know
A ballot measure could require citywide votes before building or expanding large “event centers” for the 2028 Olympics; which could delay projects, raise costs, and create uncertainty for property managers and tenants nearby.
What You Need to Know
In June, a hotel and restaurant workers’ union filed a ballot measure that would require a citywide vote before building or expanding large “event centers” like sports arenas, hotels, convention halls, or even temporary venues over 50,000 square feet or 1,000 seats.
Venues that could be impacted include:
- Los Angeles Convention Center
- John C. Argue Swim Stadium (Exposition Park)
- Sepulveda Basin Recreation Area (Valley)
The City Clerk is still reviewing the initiative. If it moves forward, signature gathering would start, and it likely wouldn’t reach the ballot until June 2026.
How It Impacts You
For property managers and service providers, this ballot measure could create uncertainty for projects tied to the 2028 Olympics. Required citywide votes could delay even routine upgrades or temporary builds, affecting timelines for leases, contracts, and operations.
Potential impacts include:
Tenant Relations: Businesses counting on Olympic traffic may be frustrated if nearby venues aren’t ready.
Budgets and Contracts: Special elections could add costs, affecting service agreements and rent negotiations.
Operations: Delays at venues like the Convention Center could disrupt traffic, security, and event-driven revenue.
Stay Connected
Overall, the ballot measure highlights the importance of staying engaged with city officials and planning for delays will help protect your properties, tenants, and operations.
Follow BOMA on the Frontline for updates on the 2028 Olympics.
