Award-Winning Architecture and Urban Revitalization: The Case of “Olympic Arenas” in Berlin-Prenzlauer Berg
AbstractThis paper investigates socioeconomic impacts of three multifunctional sports arenas situated in Berlin-Prenzlauer Berg, Germany. The three arenas are chosen with respect to their potential to contribute to a process of revitalization of their economically deprived neighbourhood. Impact is assessed by conducting hedonic analyses of standard land values under consideration of spatial spill-over effects. To confirm results and to provide a more comprehensive interpretation we employ a differences-in-differences approach to check for structural breaks in development of rents and selected socioeconomic variables within determined 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 neighbourhood activists´ concerns that congestion problems may adversely affect property values, at least when not addressed appropriately during the period of planning.
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Bibliographic InfoPaper provided by International Association of Sports Economists & North American Association of Sports Economists in its series Working Papers with number 0814.
Length: 57 pages
Date of creation: Aug 2008
Date of revision:
Stadium Impact; Stadium Architecture; Gentrification; Hedonic Regression; Spatial Autocorrelation;
Find related papers by JEL classification:
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
- R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock
- R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-08-21 (All new papers)
- NEP-GEO-2008-08-21 (Economic Geography)
- NEP-SPO-2008-08-21 (Sports & Economics)
- NEP-URE-2008-08-21 (Urban & Real Estate Economics)
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