Estimated cost for Vancouver 2030 Winter Olympics revealed

Three weeks after revealing the proposed plan for an Olympic bid, officials shared what the cost could be for Vancouver to host the 2030 Winter Games.

The overall estimated cost is between $3.5 billion and $4 billion, with a mix of public and private funding covering the tab.

According to those behind the financial estimate, for every public dollar spent by government, $5 or $6 will come from outside sources.

The local organizing committee – led by four host First Nations – and the Canadian Olympic Committee provided the preliminary estimate Friday.

The proposed cost includes planning, organizing and execution, with a lot of money going toward refreshing the venues used the last time the area hosted the Games in 2010.

The current proposal includes events in Whistler, the Sun Peaks area and Vancouver and the Lower Mainland.

The Lil̓wat7úl (Líl̓wat), xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish) and səlilwətaɬ (Tsleil-Waututh) First Nations, along with the COC and Canadian Paralympic Committee, said that budget reflects a concept "that will be climate-positive, legacy-driven, and that can truly transform Canada through the power of sports."

While it's a high number, the group said using existing venues cuts the infrastructure costs down to 54 per cent of what it cost to host the Olympics in 2010.

Security costs, too, will be about half of what was required last time, it said.

“We know the public is eager to hear what the cost of the 2030 Games will be, and I hope that the financial estimates are reassuring that it is not only feasible to host these Games, but it is beneficial to all of our communities,” said Chief Wayne Sparrow of the Musqueam Indian Band in a statement Friday.

And the benefits of hosting the Games include that more than 1,000 new housing units will be added to the region's stock. Some of the homes built will become affordable housing units, while others will be sold at market rate, and some will be rented out, according to the current plan.

The group's presentation on its financial estimates can be read online. 

Not included in the estimate are the costs of various essential services including snow removal, temporary road closures and emergency services, among other things.