Interesting Housing value article on AJC concerning Stadium... (Atlanta, Dallas: car rental, sales)

[SLIMMACKEY]

How the new Mercedes-Benz Stadium will affect home values | www.ajc.com

This is the first market analysis I have seen in print that states the values will not be inversly or even adversly affected due to all the millions being poured into the new Falcons stadium. I always ask people the question, when Im in Atlanta, why the real estate in Vine City, English Ave., and Even the AUC/Ashview Heights areas wasnt valued highly due to the old stadium and Congress Center. Interesting to say the least...

[ATLTJL]

I always ask people the question, when Im in Atlanta, why the real estate in Vine City, English Ave., and Even the AUC/Ashview Heights areas wasnt valued highly due to the old stadium and Congress Center. Interesting to say the least...

How many instances of stadiums and convention centers lifting residential real estate values can you cite?

[SLIMMACKEY]

Grand Concourse in Bronx, Coors Field Denver, Century Link and Im sure there are some others. As well as examples like the Falcons stadium where they havent spurred economic develpment. So, can you answer the question that you asked?

Its interesting because of the pretext of peoples belief that there will be mass investment in such areas due to the pumping of millions into projects like these and what makes them a good idea for the public and not just greedy sports team owners.

[ATLTJL]

I haven't studied the topic extensively, I just know that adjacency to stadiums and convention centers isn't generally seen as a positive.

I'm guessing because of all the noise and traffic they create. Having worked near these venues I can tell you it's a major headache to face traffic snarls every time there is an event, which for some venues is often. The worst is for events that have multiple showtimes per day. The circus pretty much totally f's up traffic around Philips Arena all day long when it is in town because there is alway a performance letting out or one getting ready to start. Who wants to live next to that?

I could see it being a little better for something like the Braves stadium because baseball schedules are easy to check and nothing else really happens there. But think about GWCC, Philips, and the GA Dome. There is ALWAYS something happening at one of these venues.

As far as I know, LA Live by Staples Center hasn't performed well...maybe that has changed? I was there years ago and the feeling was "why do we want to hang out by the arena?"

[SLIMMACKEY]

Originally Posted by ATLTJL

I haven't studied the topic extensively, I just know that adjacency to stadiums and convention centers isn't generally seen as a positive.

I'm guessing because of all the noise and traffic they create. Having worked near these venues I can tell you it's a major headache to face traffic snarls every time there is an event, which for some venues is often. The worst is for events that have multiple showtimes per day. The circus pretty much totally f's up traffic around Philips Arena all day long when it is in town because there is alway a performance letting out or one getting ready to start. Who wants to live next to that?

I could see it being a little better for something like the Braves stadium because baseball schedules are easy to check and nothing else really happens there. But think about GWCC, Philips, and the GA Dome. There is ALWAYS something happening at one of these venues.

As far as I know, LA Live by Staples Center hasn't performed well...maybe that has changed? I was there years ago and the feeling was "why do we want to hang out by the arena?"

LMAO...actually posted the initial post waiting to board flight to LA for the weekend. Not too many people who live here like LA Live either. I think that its in any cities best interest to ensure that the surrounding areas, especially residential be included in a package like the stadium deal. Some sort of CBA should have been submitted and/or enforced making the Falcons or any organization that the city will subsidize put up some capital to assist with the "beautification" of the immediate area. The only owner whom owns their stadium in the NFL is Jerry Jones. The rest pander to their respective cities and threaten to move their org if they dont have new up to date digs to play in. But the areas they sit in really get no benefit. Its ridiculous.

[Newsboy]

Originally Posted by SLIMMACKEY

LMAO ... Some sort of CBA should have been submitted and/or enforced making the Falcons or any organization that the city will subsidize put up some capital to assist with the "beautification" of the immediate area. The only owner whom owns their stadium in the NFL is Jerry Jones. The rest pander to their respective cities and threaten to move their org if they dont have new up to date digs to play in. But the areas they sit in really get no benefit. Its ridiculous.

There is SO much wrong with everything you wrote here. For starters, Jerry Jones does not "OWN" AT&T Stadium -- the City of Arlington does. And they raised taxes to do it! In fact, Jones played a 10-year game of "Who's gonna give me the better deal?" with Dallas, Grapevine, Coppell and Irving before the city of Arlington foolishly bit. To pay for the stadium, Arlington voters approved an increase of the city's sales tax by 0.5%, the hotel occupancy tax by 2%, and car rental tax by 5%. The City of Arlington also provided over $325 million (including interest) in bonds as funding. The NFL pitched in another $200 million. Jones, for his part, agreed to cover any cost overruns.

And have you seen the neighborhood that stadium is in? It's surrounded by abandoned car lots, liquor stores, pawn shops, fast-food chicken places -- and a Super Walmart. More than 200 houses were demolished to build the stadium, most of them taken by imminent domain because the owners refused to sell. Arlington offered them way below market value and has yet to settle all the lawsuits.

What's more, the stadium is a mile from the nearest interstate (I-20) and is not served by public transit. That might explain why it sits in the a sprawling sea of surface parking lots -- without a single tree no less! The Cowboys charge up to $75 per game for parking on city-owned property but of course keeps all the revenue.

Now ... what were you saying about the new Falcons stadium again?

https://www.google.com/maps/@32.7488.../data=!3m1!1e3

[dgreen]

One thing you can be assured of that taxes will rise significantly on your homes in that area.

[jsvh]

Originally Posted by dgreen

One thing you can be assured of that taxes will rise significantly on your homes in that area.

Why? (not saying I agree or disagree)

[demonta4]

Maybe it'll increase if they build more condos and retail around it. Try to attract some bars or clubs. I can see young people wanting to live around a busy walkable area if it's done right.

[Hokiehaven]

Two miles is a bit far, particularly in a place like Atlanta, where neighborhoods are radically different and because the stadium is in the core of the city, unlike say a Dallas, where it's in the middle of Arlington, not the core.

Also, may be the growth of the city in general, swear cities like Pittsburgh are falling in population and other factors too.