The opening ceremonies of the 2012 Olympic Games took place in London this weekend, but if things had turned out differently, they could have been taking place here.

Back in 2004, the city was competing with Paris, Madrid, Moscow and London to host the 2012 Olympic Games. Part of the city’s bid was a planned $1.5 billion Olympic Village on the Long Island City waterfront, to be converted into housing after the games. After the award of the 2012 games to London, the city moved toward middle income housing at the site, and today, construction of Hunters Point South (HPS) is underway. When complete, HPS will include 5,000 housing units, 60 percent of which will be affordable; new retail amenities and schools; and an expanded Gantry Plaza State Park. While some building construction has begun, most of the current work is related to infrastructure expansion. The first phase of housing construction is projected to be completed in 2014.