July 10, 2010
Land Development and LeBron...
Okay, so yes, every blog must post some angle about something to do with the LeBron "Decision". Indeed, none other than the giant FTC is secretly demanding and monitoring compliance with this hush-hush dictate.
Unfortunately, for land use types, it requires a bit of intellectual dexterity to come up with a logical approach, including a little creep into state and local government, real estate, and tax issues.
With that broadened scope, I ran across an interesting piece by the OC Register that describes the real estate comparisons between LeBron's former city and his current locale.
The median home price numbers were actually quite surprising as was the lower unemployment along Lake Erie.
--Chad Emerson, Faulkner U.
July 10, 2010 | Permalink
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Here's another land use angle, Chad: LeBron's supposed economic impact on cities, and on Cleveland in particular. In the run-up to The Decision one could hear ludicrous claims that LeBron was a one-man stimulus package, potentially bringing as much as $2.7 billion to Chicago. Those sorts of claims about the economic impact of sports on cities tend to be debunked these days, see http://www.theatlantic.com/business/archive/2010/07/lebrons-limited-economic-impact/59485/. But the other side of the story seemed to be part of this meme about Cleveland, the poor rust belt city dying in the recession, and now LeBron's leaving is the psychological and economic coup de grace. ESPN drew attention to the supposed economic impact ($20-40 million) to the neighborhood around the arena: http://espn.go.com/video/clip?id=5369124. Perhaps some bars and restaurants will close because of weaker attendance at 40 or 50 home basketball games, but in my opinion this sort of argument is generally becoming less persuasive in the land use politics of sports teams and stadiums in cities.
Posted by: Matt Festa | Jul 11, 2010 5:18:50 AM