RT Journal Article
SR Electronic
T1 How Does a New Sports Stadium Affect Housing Values? The Case of FedEx Field
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 379
OP 395
DO 10.3368/le.81.3.379
VO 81
IS 3
A1 Tu, Charles C.
YR 2005
UL http://le.uwpress.org/content/81/3/379.abstract
AB This 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. (JEL R53, R31)