Faculty Director, Real Estate Development + Design; Associate Professor of Practice, Architecture, UC Berkeley College of Environmental Design. Views are mine.
Jul 26, 2019 • 19 tweets • 4 min read
Some thoughts on the Calgary arena deal #yyc#yyccc#yycarena. First, from empirical evidence we know:
1. New venues don't have significant regional econ impact mostly b/c household sports spending is substitutable (if not spent on sports, it's spend on other entertainment).
2. While new sports venues don't typically help a city economically overall, they can have positive localized impact by slightly (+10-15%) increasing property values at the neighbourhood scale. So not economic boosters, but can help catalyze development in the immediate area.
