How Much Are The Tickets To The World Cup 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 money. 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 put people back to work in the city center and create jobs. “People need jobs now and when you have an opportunity to do the right thing for the city of San Diego, it should be done,” said Adam Zavarian, a local San Diegan. The stadium, which was not specifically mentioned in the legislation, has not been designed and it could take several years before construction could begin. 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 state-of-the-art soccer stadium in San Diego, there are several positive economic factors. Just as the Dallas Cowboys Stadium did for Jerry Jones, the new stadium in downtown San Diego can. There is potential to host a 6th BCS bowl game. A potential World Cup return to the United States and the West Coast, and possibly even a Pro Bowl. These things are all speculation at this point, but they are all major economic factors with potential in the next 10 – 15 years. Not to mention each Superbowl generates approximately $300 million in local spending from the event.

What the stadium means for real estate prices in the city:

  1. The real estate value of parking lots will increase: Anyone with additional parking will be able to charge a premium for parking spaces during the season.
  2. New development condominiums can be integrated into the stadium a la The Legends and Petco Park. Therefore, condo owners can get “season tickets.” Definitely desirable real estate and the first of its kind.
  3. The more development in the city centre, the greater the flow of traffic and tourism. Turning San Diego’s downtown into New York City, Chicago-style, can only help real estate values. As seen from residential and commercial values ​​in these cities.
  4. Imagine the economic and financial benefits of local businesses and hotels for events like the Super Bowl and the World Cup in San Diego. Average Daily Rates of hotels will increase as commercial property values ​​will soon follow.
  5. More Vacation Rentals and 2f Homes will be bought. Increase occupancy rates and provide a solid revenue stream for existing owners. Thus increasing the overall unit price.

Ultimately, a new Chargers Stadium is years away. Yet one cannot help but think that the positive economic benefits of building a stadium would accrue 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 centre, the overall positives outweigh the negatives. I’m sure Real Estate Property Values ​​will agree with me.

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