Japan approves $1.5B Olympic stadium construction plan

Dive Brief:

Japanese government officials have officially approved plans for the $1.5 billion 2020 Tokyo Olympic Games stadium, according to ABC News.
Olympic officials said the Kengo Kuma-designed facility will be complete by November 2019, in time for the summer Olympics but too late to host the 2019 Rugby World Cup as originally planned.
The initial stadium plans were scuttled in the face of rising costs and public outcry that taxpayers, already dealing with a weak Japanese economy, shouldn't have to foot the bill for extravagant designs.

Dive Insight:

Olympic officials first chose a stadium design by late British-Iraqi architect Zaha Hadid, but projected costs soon began to escalate and ended up at almost $2.5 billion for a futuristic design that the Japanese public did not embrace. After her design was tossed aside, officials opted for a more traditional, low-key aesthetic from Kuma.

Costs for the Tokyo Olympics are rising, and both Japan and Tokyo officials are looking for expendable budget items. According to ABC, officials have pledged to oversee the stadium's construction with a keen eye and Tokyo organizers are considering using existing facilities for many events rather than building new ones. A commission of outside experts warned the total cost for the games could exceed $30 billion, almost twice its last revised figure of $16.7 billion.

Preparing to host the Olympics is notoriously difficult, as nations struggle to keep construction costs under control. Several host cities have underestimated the cost of shoring up for the Olympics. For example, the 2014 Sochi Olympics in Russia, considered the most expensive Olympics ever, wound up costing $51 billion.

Despite those concerns, Los Angeles has set its sights on hosting the 2024 Olympic Games. At the end of August 2015, the U.S. Olympic Committee and Los Angeles officials reached an agreement to have the city be the official U.S. bidder for the Games. Boston, the initial U.S. city planning to bid for the Olympics, withdrew its bid due to concerns over costs. Los Angeles will have to wait to find out if it beats Paris, Rome and other cities for the chance to hold the event, as the International Olympic Committee won't announce the official host city until 2017.