Award-Winning Architecture and Urban Revitalization: The Case of “Olympic Arenas” in Berlin-Prenzlauer Berg

Gabriel M. Ahlfeldt and Wolfgang Maennig ()

No 814, Working Papers from International Association of Sports Economists

Abstract: This 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.

Keywords: Stadium Impact; Stadium Architecture; Gentrification; Hedonic Regression; Spatial Autocorrelation (search for similar items in EconPapers)
JEL-codes: R31 R53 R58 L83 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-geo, nep-spo and nep-ure
Date: Written
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Persistent link: http://EconPapers.repec.org/RePEc:spe:wpaper:0814

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