This paper investigates socioeconomic impacts of three multifunctional sports arenas situated in Berlin-Prenzlauer Berg, Germany. The three arenas were chosen for their potential to contribute to revitalisation of their economically deprived neighbourhoods. We employ a difference-in-differences approach to check for structural breaks in development of land values within areas of potential impact. Our results suggest that arenas emanate positive externalities and apparently have accelerated the process of gentrification going on in Prenzlauer Berg. However, evidence also supports concerns that congestion problems may adversely affect property values, at least when not addressed appropriately during planning.
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Publisher Info
Paper provided by Chair for Economic Policy, University of Hamburg in its series Working Papers with number
001.
Length: 34 pages Date of creation: 2007 Date of revision: Publication status: Published in Hamburg Contemporary Economic Discussions, Issue 01, 2007 Handle: RePEc:hce:wpaper:001
Find related papers by JEL classification: R53 - Urban, Rural, and Regional Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock R58 - Urban, Rural, and Regional Economics - - Regional Government Analysis - - - Regional Development Policy
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