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Article: THE IMPACT OF STADIUM ANNOUNCEMENTS ON RESIDENTIAL PROPERTY VALUES: EVIDENCE FROM A NATURAL EXPERIMENT IN DALLAS-FORT WORTH

Article from:
Contemporary Economic Policy
Article date:
October 1, 2007
Author:
Copyright

We investigate the impact of a potential new sports venue on residential property values, focusing on the National Football League's Dallas Cowboys' search for a new host city in the Dallas-Fort Worth area. We find that residential property values in the city of Dallas increased following the announcement of a possible new stadium in the city. At the same time, property values fell throughout the rest of Dallas County, which would have paid for the proposed stadium. These patterns reversed when the Dallas stadium proposal was abandoned. Subsequently, a series of announcements regarding a new publicly subsidized stadium in nearby Arlington, Texas, reduced residential property values in ...

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