Take Me Out to the Ball Game: The Impact of Sports Venue Development

Sports venues can be powerful urban growth engines. Entrepreneur Larry Botel, co-owner of the Richmond minor-league baseball team, and CBRE’s Pam Strieffler discuss how mixed-use districts anchored by these venues can transform CBD-adjacent areas. They walk through strategies for attracting outside capital, navigating rising construction costs, drawing year-round visitors, and forging public-private partnerships to create districts that propel economic activity.Sports venues can anchor mixed-use developments, driving urban revitalization.Public-private partnerships and tax incentives are essential for stadium projects.Year-round venue activation draws daily traffic, crucial for surrounding businesses and real estate.Office space is vital for mixed-use success, bringing steady economic activity.Nearby universities can fuel market growth and attract outside investment.