As it vies to host the 2024 Summer Games, Boston's plan envisions two new permanent neighborhoods built with a mix of public and private investment. The final decision will take place in September.
The Olympics can be a mixed blessing for host cities. The influx of money and attention is temporary by definition, and needs to be integrated into long-term development plans. To that end, Boston intends to position its Olympics "less as the ultimate goal of the planning effort and more of a waypoint along a sweeping 18-year economic development project."
"With the fate of Boston's Olympic bid in the balance, Boston 2024 sketched out plans to use generous city tax breaks to prompt development of 8,000 units of housing among 12 million square feet of new, permanent development." The plan takes loosely after Hudson Yards, a large-scale private development currently under construction in New York City.
"Essential to the plan is $4 billion in private sector investment, undertaken in conjunction with $775 million in taxpayer financed transportation projects, which the committee maintains are needed with or without the Olympics." Seeking to quell fears about bold or risky investment, Boston 2024 has already earmarked over $100 million to insure its putative Games.
"With polls suggesting public support for hosting the Games is below 50 percent, the committee's future rests on how well its 2.0 plan stands up to public and expert scrutiny. The US Olympic Committee faces a September deadline to formally name a city for the international contest for the 2024 Games. The Boston bid is unlikely to go forward if the new plan falls flat."
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