LA28 opening and closing venues, Long Beach wetlands, and more

Last year, Metro backed away from awarding Lyft a $132-million contract to operate its bike share system, opting to restart the bidding process in the face of backlash from organized labor and cyclists alike. One year and a new bidding process later, Metro has arrived at a new preferred operator for its bike share system: Lyft. 

In a blog post, the San Francisco-based rideshare company touts its ebike technology, charging infrastructure, and mobile app as boons to potential patrons of Metro Bike Share. The company also pitches the system as a critical component to the regional transportation network as Los Angeles gears up to host major events such as the World Cup, the Super Bowl, and the Olympics.

The Los Angeles Memorial Coliseum and SoFi Stadium will jointly serve as the venues for the opening and closing ceremonies for the 2028 Summer Olympics, Los Angeles Mayor Karen Bass and Inglewood Mayor James Butts announced this week, alongside LA28 and other city officials.

SoFi Stadium, the most expensive stadium ever built with a price tag in excess of $5 billion, will also serve as the site of swimming events during the games. The Coliseum, which will become the first venue to host three Olympic games when 2028 rolls around, will serve as the location of track and field events.

Talent agency and production firm Artists First is moving into 22,785 square feet of office space at 2121 Avenue of the Stars in Century City, the Irvine Company announced this week. 

The 34-story tower - which Die Hard fans should be very familiar with - is currently 94 percent leased as of March 2025. Those figures are good news for other planned and under-construction office developments in Century City, even if the broader Los Angeles market faces headwinds.

Here's what we're reading this week:

More Caltrans homes along failed 710 Freeway extension going up for sale "This time, the properties are earmarked for affordable housing. The California Department of Transportation is inviting qualified buyers to submit their interest in the homes, which are expected to go to auction early this summer." (LAist)

Metro Names Bill Scott as Chief of Police "Chief Scott and Metro leadership emphasized that keeping Metro transit safe would require a multi-faceted approach that included the deployment of officers as well as collaboration with the community, ambassadors, and service providers." (Streetsblog LA)

Whistleblowers say LA’s top homeless official hired unqualified friends, tried to destroy public records "L.A.’s top homeless services official Va Lecia Adams Kellum engaged in major misconduct, including hiring unqualified friends into powerful positions, trying to destroy public records and behaving inappropriately at a conference, according to two whistleblower claim letters obtained by LAist." (LAist)

Long Beach is getting 156 acres of new wetlands; work begins to convert oil field into public space "The land near Trader Joe’s just north of Second Street, where it meets Studebaker Road, is owned by Synergy Gas & Oil and has been used for decades as an active oil drilling site that straddles the Long Beach-Seal Beach line." (Long Beach Post)

Private Equity Firm Carolwood in Escrow to Purchase L.A.’s EY Plaza for $130M "Previous owner Brookfield defaulted on debt tied to the 41-story property and much of the rest of its office portfolio in Downtown L.A. in 2023" (Commercial Observer)

Metro 2026 World Cup Transit Plans Emerging "From June 13 to July 7, 2026, Los Angeles will host eight World Cup soccer matches, all at the SoFi Stadium in the city of Inglewood" (Streetsblog LA)

Multifamily housing in California costs twice as much to build than in Texas "State, local policies foster long permitting and construction timelines, higher development fees." (BDC)

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