How Does a New Sports Stadium Affect Housing Values? The Case of FedEx Field
AbstractThis study investigates how the construction of a sports stadium affects residential housing values. Hedonic analyses are conducted to assess the price differentials between housing units in close proximity to FedEx Field (home of the Washington Redskins) and comparable units away from it. Using a difference-in-difference approach, the study finds that properties near FedEx Field sold at a discount; however, this price differential was narrowed after the completion of the stadium. Contrary to neighborhood activists’ concern that sports venues adversely affect property values, the findings of this study indicate that a new stadium improves housing values in the surrounding area.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 81 (2005)
Issue (Month): 3 ()
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Web page: http://le.uwpress.org/
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- R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Production Analysis, and Firm Location - - - Housing Supply and Markets
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