City analysts raised concerns this week that Los Angeles' bid to host the 2024 Summer Olympics underestimated the cost of building an Olympic village along the Los Angeles River to lodge 17,000 athletes.
The bid put a $1-billion price tag on the village, a complex of apartments, dining areas, offices, medical facilities, parking lots and open space. It would be a public-private partnership and the apartments would be offered as market-rate and affordable housing after the Games.
However, the village would be built on a 125-acre railroad yard in Lincoln Heights called Piggyback Yard and the owner, Union Pacific Corp.