From filternews.ru (link in Russian), which is exactly what it sounds like, I pulled a report on the construction of new apartments near the pending Olympic Village in Sochi. As you may or may not know, the International Olympic Committee has requested over 41,000 available rooms for attendees be made available in Sochi. To that end, comes this report that nearly 2,500 apartments being built in the "Sport and Tourist" complex but that those apartments come with a catch. The purchasers of those apartments will not be able to use them during the Olympic and Paralympic Games (January-March, 2014) and they will be handed over to the Sochi Olympic Committee for that time period. According to this article, this will not affect the purchase price; apartments with so-called "encumbrances" will cost the same as those without, though it's not clear how this will be determined.
As best I can tell from various source, well fewer than half of the required housing has been constructed. It will be interesting to follow this development to see how the gap is bridged in the coming months and years - though it's not as if there is a lack of experience in this department.
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