Vancouver's Recession Olympics

Vancouver lost its Triple A credit rating after being forced to bail out its Olympic Athletes Village when the hedge fund that had backed it went under -- just one of the unpredicted events that made this a Recession Olympics.

Financial Times looks at the city's preparations, struggles and triumphs amid a rough economy.

"The sporting venues were built on time and on budget. A new subway line links the airport to the city centre. The athletes' village, with a view over one of Vancouver's many picturesque waterways, sets high standards in energy-efficient construction.

However, unforeseen events have taken the shine off these accomplishments. An unprecedented economic boom pushed up labour and material costs during the early preparations. Then the recession hit. Most recently, the weather has dampened the Olympic spirit. Vancouver has had its warmest start to a year ever, and rain has kept revellers off the streets for the past few days."

Full Story: Olympics city strives to rise above recession

Comments

Book cover of the Guide to Graduate Planning Programs 4th Edition

Thinking about Grad School?

New! 4th Edition of the Planetizen Guide to Graduate Urban Planning Programs just released.
Starting at $24.95

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $209
Book cover of Unsprawl

Unsprawl: Remixing Spaces as Places

Explore visionary, controversial and ultimately successful strategies for building people-centered places.
Starting at $12.95

City Coasters

Hand-drawn engraved maps of your favorite neighborhoods are divided up across 4 coasters making each one unique.
$36.00