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NY bid needs venues
America's largest city has sympathetic support but will need new stadium, village, to host games.
February 22, 2002: 5:09 p.m. ET
By Staff Writer Chris Isidore

graphic NEW YORK (CNN/Money) - In the wake of the Sept. 11 terrorist attack, New York may have the greatest sympathetic momentum of the four U.S. cities competing for the chance to bid for the 2012 Olympics. But is also faces some of the most ambitious building projects before the games will open.

That could undercut any natural support that New York may have in the vote due this fall by the U.S. Olympic Committee, which is to select which city will be forwarded to the International Olympic Committee for consideration.

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But the city's Olympic advocates insist there is enough argument to build many of the facilities they'll need even without the Olympics coming to town.

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The proposed Olympic Stadium on Manhattan's West Side would also be used as a home for the New York Jets and as an expansion of the Javits Convention Center.
So the plans to bid for the games go forward, even as Michael Bloomberg, the city's new mayor, recently blocked the proposal to build two new stadiums for the city's two baseball teams.

Among the facilities that New York organizers expect to see built between now and the opening of the games is a new stadium that will be used not just for Olympic events but for the New York Jets football team, as well as an expansion of the city's Javits Convention Center.

"The Javits Center expansion is a totally different issue (than the baseball parks)," said Jay Kriegel, executive director of NYC 2012. "Javits is 19th largest convention center in the nation. It's no longer competitive. After 9/11, it is even clearer how important tourism is to the underlying economy of the city."

The Olympic village to house athletes during the game is planned for Queens, across the East River from the United Nations. The buildings also are not yet constructed, but Kriegel said a private developer will build the structures and then sell them or rent them following the games.

The fact that the city won't have as many facilities in place as its U.S. competitors at the time that the USOC vote takes place in November doesn't worry Kriegel.

"We think we will present to USOC proof that it is doable and feasible," he said. "When there is a commitment to get it done, and done right, the city's track record is good. The cleanup at World Trade Center is going ahead of schedule and below cost."

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Since the Sept. 11 terrorist attack, the city has seen the World Economic Forum move its meeting to the city in a show of support, and the National Football League is talking about changing its rules to allow the metropolitan area play host to the 2007 Super Bowl.

Even the other U.S. cities bidding for the games say the city is now the sympathetic choice, although they believe they can still convince the USOC their bid is superior. Kriegel said the city's not counting on sympathy from the USOC to win the vote.

"I don't think anyone looks at the Olympic process and thinks it will be done on anything other than the merits," he said. "It's been very rigorous. We've never believed that any city can win this at the USOC level that doesn't have a superior bid." graphic





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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
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