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August 23, 2016

Will Rio's Olympic Park still be redeveloped?

  • The consortium behind the park has sold less than 7 percent of the Olympic Village's 3,604 apartments.
    • By ADRIANA GOMEZ LICON
    Associated Press

    RIO DE JANEIRO — The celebrations are done and the torch extinguished, but now that the Olympics are gone, Rio is left with questions about what will become of the city's plan to convert the Olympic Park into a bustling recreational district with luxury apartments and offices.

    Amid a continuing national recession, the consortium behind the park has sold less than 7 percent of the Olympic Village's 3,604 apartments, and real estate experts worry a similar fate is ahead for the main Olympic site where the city is hoping private companies build housing and offices in close to half of the park's land.


     
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