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 ]