Sporting a new role? Stadia and the real estate market

Abstract

There has been a favourable shift in UK urban policy towards the use of sporting infrastructure as a catalyst for rejuvenating declining areas. Despite this recent trend, evidence to support the notion that stadia can underpin regeneration goals is highly variable. This paper uses a case study of the City of Manchester Stadium and the Millennium Stadium in Cardiff to examine the impact of stadia construction on the real estate market, an area of economic development that has been significantly under-researched, yet which forms an integral part of the regeneration process. It concludes by arguing that a more comprehensive understanding of the role of stadia in the regeneration process is required if policy makers are to justify future and sustained public investment in sport-related infrastructure, especially given the significant investment that is planned for the 2012 Olympic Games in London.

Notes

1. The COM Stadium was originally constructed as an athletics venue for the 2002 Commonwealth Games. However to secure the long term viability of the venue, the stadium was converted to football venue immediately after the closing ceremony of the Games and leased to Manchester City Football Club. It reopened in August 2003.