Fifa World Cup Final Live Streaming Free India San Diego Chargers New Stadium in Downtown: How It Will Affect the Real Estate Market

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San Diego Chargers New Stadium in Downtown: How It Will Affect the Real Estate Market

The city of San Diego and the Chargers have been considering a 10-acre site east of Petco Park for about a year, saying the stadium could cost $800 million, including $500 million in state funding. Team officials said in December that a new stadium would involve taxpayer dollars, after nearly seven years of saying it would not.

The new arena will bring people back to work downtown and create jobs. “People need jobs now and when you have an opportunity to do the right thing in the city of San Diego, it should be done,” said Adam Zavarian, a San Diegan. The stadium, which is not specified in the law, has not yet been designed and it may take several years before the work starts. No financial plan has been put in place for the 62,000-seat stadium, but completion is unlikely to happen before 2015.

With the current state-of-the-art stadium in San Diego, there are a number of economic advantages. Just like the Dallas Cowboys Stadium did for Jerry Jones, a new downtown stadium could be in San Diego. There is a potential for 6 BCS bowl games. The possibility of the World Cup returning to the United States and the West Coast, and possibly the Pro Bowl. All of these things are speculation at this point, but they are all major economic opportunities in the next 10 – 15 years. Not to mention that each Superbowl generates somewhere around $300 million in local spending from the event.

What does this square mean for downtown prices:

  1. Parking fees will increase: Anyone who has an additional parking space will be able to charge a parking fee during the season.
  2. New development condos could be included in The Legends Arena and Petco Park. Therefore, condo owners can have “season tickets.” A truly unique and first-of-its-kind property.
  3. The more urban development, the more traffic and tourism. Turning the city of San Diego into the city of New York, the city of Chicago can help sell real estate. As can be seen from the residential and commercial properties of these cities.
  4. Just imagine the economic and financial benefits for local businesses and hotels during events like the Super Bowl and the World Cup in San Diego. Average Daily Rates for hotels will increase as commercial rates will soon follow.
  5. 2 Vacation Rentalsand Houses will be bought. Increasing occupancy and providing solid income for current owners. Thereby they increase the value of the entire unit.

In the end, the new Chargers stadium has many years. However, we can’t help but think of the economic benefits building a stadium would bring to the city of San Diego and its residents. While the new stadium may bring more traffic and air and noise pollution to the town centre, the pros outweigh the cons. I believe Real Estate Values ​​resonates with me.

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