The Amenity Value of Sports Facilities: Evidence From the Staples Center in Los Angeles
Zachary T. Keeler,
Heather M. Stephens and
Journal of Sports Economics, 2021, vol. 22, issue 7, 799-822
U.S. cities have recently experienced a boom in new sports facility construction. Although these facilities can provide benefits to local residents, they may also generate negative externalities, making dwellings near a facility less desirable. Using a hedonic spatial difference-in-differences model, we analyze the impact of proximity to the Staples Center, a sports and entertainment venue in downtown Los Angeles, California, on house prices. Results indicate that the arena opening increased nearby house prices and that there were also positive â€œanticipationâ€ effects associated with the announcement of the new arena location and local government approval.
Keywords: urban development; spatial difference-in-differences; housing prices; hedonic price model; sports facility (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jospec:v:22:y:2021:i:7:p:799-822
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