How Much Is An Average World Cup Ticket 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 a stadium could cost $800 million, including $500 million in public funds. Team officials said in December that a new stadium would almost certainly involve taxpayer money, after nearly seven years of saying it would not.

The new stadium would bring people back to work downtown and create jobs. “People need jobs right now and when you have the opportunity to do the right thing for the city of San Diego, it should be done,” said Adam Zavarian, a native San Diegan. The stadium, which was not explicitly mentioned in the legislation, has not been designed and could take several years before construction begins. No financial plan has yet been proposed for the 62,000-seat stadium, but it is unlikely to be completed before 2015.

With a new soccer stadium in San Diego, there are some positive economic factors. As the Dallas Cowboys Stadium did for Jerry Jones, the new downtown stadium could be for San Diego. There is a possibility of hosting a 6th BCS bowl game. The potential of the World Cup returning to the United States and the West Coast, and maybe even a Pro Bowl. These things are all speculation at this point, but they are all major economic drivers with potential in the next 10-15 years. Not to mention each Superbowl generates somewhere around $300 million in local spending from the event.

What the stadium means for downtown real estate prices:

  1. The real estate value of the parking lots will increase: Anyone with extra parking will be able to pay a premium for the spaces during the season.
  2. New development buildings could be integrated into the stadium a la The Legends and Petco Park. Therefore, apartment owners can have “season tickets”. Definitely desirable and first of its kind real estate.
  3. The more development downtown, the more traffic and tourism flow. By turning downtown San Diego into a New York, Chicago-style downtown can only help real estate values. As can be seen from the residential and commercial values ​​in these cities.
  4. Imagine the economic and monetary benefits to local businesses and hotels for events such as the Super Bowl and World Cup in San Diego. Average hotel daily rates will increase as commercial property values ​​will soon follow.
  5. More vacation rentals and 2n.d Houses will be bought. Increasing occupancy rates and providing a solid income stream for current owners. This increases the overall unit price.

After all, the new Chargers Stadium is years away. However, one cannot help but think of the positive economic benefits that the construction of a stadium would bring to the city of San Diego and its residents. Although the new stadium may bring more traffic congestion and air and noise pollution to the city center, the overall positives outweigh the negatives. I’m sure real estate values ​​will agree with me.

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