Yup. They used it as an impetus to build public transportation infrastructure, turned the Olympic complex into a winter sporting area, and the athlete dorms into student/affordable housing.

Since then, public transportation has turned to dog shit for most of the city, but it works well for me. Plenty of people still use the winter sporting infrastructure (I think), and housing still exists even if everything around those areas are getting gentrified, which somewhat of a universal truth.