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New Stadium Cause Home Prices To Go Up?

Check out the following story from scforprogress.com.

"Santa Clara County Realtors Endorse Measure J
Santa Clarans for Economic Progress is proud to announce that the Santa Clara County Association of Realtors has formally endorsed a YES vote on Measure J.

In announcing the endorsement, 2010 SCCAOR President Karl Lee said, “The decision by the 49ers to make Santa Clara their home is a testament to the growing vitality of the South Bay. We look forward to the positive impact that the 49ers will bring not only to the City of Santa Clara but to Santa Clara County as a whole.”

The realtors believe one major impact will be increased property values in the North Bayshore area surrounding the proposed stadium site. A recent report by University of San Diego Professor Charles Tu examined property values around FedEx Field, the home of the Washington Redskins, which opened in Landover, Maryland, in 1997.

Because Landover and Santa Clara are both suburban cities bordering on major metropolitan areas (Washington, DC, and San Jose, respectively), FedEx Field presents an ideal model for studying the possible affects of a new stadium in Santa Clara. If the results in Landover are any indication, home owners in the North Bayshore area should be excited about what the stadium project would mean for their property values.

Tu’s report presents a thorough analysis of available data and demonstrates how property values in the area around FedEx Field significantly improved both during and after construction. His study found that the closer a home was to the new stadium, the greater the price improvement, with homes within a 2.5-mile radius showing the sharpest increases.

Similar improvements have been observed in the neighborhoods surrounding a pair of recently constructed local sports venues: AT&T Park in San Francisco and HP Pavilion in San Jose. Both of these projects have dramatically improved the viability of their respective communities by spurring both residential and commercial development. Over 17 years in operation, HP Pavilion has also had a direct and positive impact on existing businesses in Downtown San Jose.

The Santa Clara County Association of Realtors expects a Santa Clara stadium to trigger similar development in the North Bayshore area, specifically in and around Santa Clara’s “entertainment corridor” — including the Great America theme park and the Santa Clara Convention Center.

You can learn more about the economic impact of the stadium by visiting SantaClaraStadiumFacts.com."

[ Edited by strinersniners on May 8, 2010 at 21:01:06 ]
That sucks
Originally posted by pelos21:
That sucks

why does that suck?
Nice.
That stadium better get approved.
Originally posted by modninerfan:
Originally posted by pelos21:
That sucks

why does that suck?


Honestly, I didn't read it. Just read the title and thought it sucked.
Originally posted by modninerfan:
Originally posted by pelos21:
That sucks

why does that suck?

It can be good and bad.
Originally posted by teeohh:
Originally posted by modninerfan:
Originally posted by pelos21:
That sucks

why does that suck?

It can be good and bad.

good for current owners.
bad for prospective buyers (once its built).

so if you've got $$$ to burn, i'd buy up those duplexes right next to the 49ers facility right about NOW!!!

had an uncle who used to live in the Great America/Our Lady of Peace area, bet he wishes he hadn't sold his home for retirement $$ now...
Duh.

You didn't know that property values increase when your neighbors build a house worth more than yours?

Now apply that to a Stadium. Enjoy the tax increase Santa Clara.

~Ceadder
Guys, I'm starting to get worried about the bill passing. I know I've been harping on about it for a few days, but I'm starting to fear the worst - a move to Los Angeles.

I've already sort of started to dissociate myself from the team so that the emotional impact isn't so great if they do move to LA.
Originally posted by area49:
Guys, I'm starting to get worried about the bill passing. I know I've been harping on about it for a few days, but I'm starting to fear the worst - a move to Los Angeles.

I've already sort of started to dissociate myself from the team so that the emotional impact isn't so great if they do move to LA.

GTFO




[ Edited by ads_2006 on May 8, 2010 at 20:54:35 ]
Why not target the voting homeowners with in the 2.5 mile radius of the proposed stadium with the rise in home value news? Why not send mailers and door hanger brochures? I would think the rise in home value news would bring more "No On Measure J" and "Maybe On Measure J" people to vote "Yes On Measure J".

[ Edited by strinersniners on May 8, 2010 at 21:07:14 ]
Originally posted by area49:
Guys, I'm starting to get worried about the bill passing. I know I've been harping on about it for a few days, but I'm starting to fear the worst - a move to Los Angeles.

I've already sort of started to dissociate myself from the team so that the emotional impact isn't so great if they do move to LA.

we'll all know who to blame if that abomination ever occurs!
Why not target the voting homeowners with in the 2.5 mile radius of the proposed stadium with the rise in home value news? Why not send mailers and door hanger brochures? I would think the rise in home value news would bring more "No On Measure J" and "Maybe On Measure J" people to vote "Yes On Measure J".

Real Estate is projected to go up in Santa Clara? EXACTLY! This should be a nice slap in the face for the city of SF. This is one of the main reasons why keeping the stadium in the city is a good thing. A stadium of that caliber gives life to the area.

Why not look at AT&T as an example. What was down there before?? Not a D thing. Now its actually nice to go down there even if the Giants aint playin. Imagine Momo's there without the stadium. That's right, it wouldn't be there, along with a bunch of other places there is to go now. House prices go up? So what? You can do a lot in Bayview/HP. Along with residential projects, you could probably make another "downtown" if you wanted. Talk about moving in the direction of a world class city. WOW. New stadium. Hotels. Nightlife. Jobs. Tourist money..... A 6-8 lane bridge connecting the South Basin or India Basin to the 101. LMAO OK, OK I'll stop pipe dreaming. THAT would never happen, albeit practical. Waaaay to many politics. Got to make sure beetle habitats aren't destroyed or you piss off the wrong group of people, ya know.

So the area will remain the way it is now and only the few that live in the area will know what that looks like. I've read enough posts to know some people on here don't even think Candlestick is in SF. Great. Now there will be nothing in Candlestick Point. Sure its only 10 games a year, but that extra cash comes in NICE and at a nice time of year. For everyone from ushers to parking attendants to hotel maids to airline baggage handlers to waitresses to bartenders and even the SFPD gets some hard sought OT.

KUDOS to Santa Clara for doing the right thing for themselves. I know I'LL be out there droppin coin. You're on your way to being put on the map. Soon in might be the San Jose Bay.