Tennis and Economic Development

How many promises are made about building an area when a new Major League Baseball team, a National Football League team or a National Basketball Association team wants the city to put in a ton of money for a new stadium or arena? Tons.

Authors like Andrew Zimbalast  conclude that sports teams and facilities are not a source of local economic growth and employment; second, the magnitude of the net subsidy exceeds the financial benefit of a new stadium to a team.

The Brookings Institution say the promises are usually not met.

Washington, DC tried this with the Nationals Park as a part of the office buildings and condominiums that sprang up all across the Navy Yard and parts of southeast.

Now the southwest waterfront is the next development area.

The city poured $200 million for infrastructure improvements and a developer began the process of building condominiums. The new tennis stadium is one of the drawing cards to this part of the city.

The team says on its website that the new location will enhance the viewing experience for fans who already consider the Kastles’ home one of the most intimate, exciting tennis venues in the country.

The developers PN Hoffman and Madison Marquette hope and think this 3,000-seat tennis stadium will jump-start a nearly $2 billion, 10-year redevelopment project. The stadium will serve to lure area residents to a waterfront development of hotels, restaurants, shops, a marina with 600 new boat slips and dockside apartments.

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