What's Hot: A 50-Unit Development is Pitched For Recognizable Buildings Along H Street | The Fastest Moving Prices in DC
Boston Isn’t Committing to Hosting 2024 Olympics

Boston was named the host city for the 2024 Olympics and Paralympics back in January, but today Boston.com reported that the mayor is rethinking whether the city wants to host after all.
story continues below
loading...story continues above
Mayor Marty Walsh, who has long been supportive of hosting the Olympics, said today he’d rather not sign a contract to move forward if it puts city taxpayers at risk. The host city is responsible for all of the Olympics’ financial shortfalls and this has become a major point of contention for the mayor.
“I cannot commit to putting the taxpayers at risk,” Walsh said. “If committing to signing a guarantee today is what’s required to move forward, then Boston is no longer pursuing the Olympic and Paralympic Games.”
It is no secret that the Olympics has long been criticized for being a money pit for host cities.
“My basic takeaway for any city considering a bid for the Olympics is to run away like crazy,” Victor Matheson, a professor of economics at College of the Holy Cross told Washington Post in an August 2013 article.
When DC was in the running to host the 2024 games, many in the region were concerned that the city’s infrastructure couldn’t handle the influx of people and that it was too financially risky. Hosting the Olympics, according to the Post article, rarely brings in more money, despite international attention. It’s also easy to lose track of expenses with big projects. Once they’re underway, the pressure to spend more money to complete them often outweighs other options.
Update: On Monday afternoon, the Associated Press reported that the USOC is ending its effort to bring the 2024 Olympics to Boston.
This article originally published at http://dc.urbanturf.com/articles/blog/boston_isnt_committing_to_hosting_2024_olympics/10174
Most Popular... This Week • Last 30 Days • Ever

DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »

The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... read »

A look around DC to find the most equity-rich neighborhoods.... read »

Just a month after setting a new high in March, the value of a house in DC skyrockete... read »

The National Capital Planning Commission will consider approval of the final master p... read »
- First-Timer Primer: DC's Home Buyer Assistance Programs
- Rendering Revealed for One of the Largest New Residential Developments in Friendship Heights
- Where Are People House-Rich in DC?
- $1.4 Million: The Price for a House in DC Hit a New High in April
- The Massive Development at DC's Armed Forces Home Looks to Get Key Approval in June
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro