Olympics and Urban Legacy in Sydney: Urban Transformations and Real Estate a Decade after the Games

Yamawaki, Yumi; Duarte, Fábio

doi:10.1080/13574809.2014.923745

Cited by 5 publications

(2 citation statements)

References 22 publications

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“…While the legacy model of Sant and Mason (2015) highlighted the role of deficient highway infrastructure connecting the two competition clusters in selling Games related expenses, no work has detailed the two largest Games-related facility or venue financial investments: the BC Place renovation and the VCC expansion. Likewise, while some have covered the impact of the Olympics on land acquisition (Davis & Thornley, 2010), property values (Kavetsos, 2012), or development on land ancillary to mega-event related infrastructure projects (Yamawaki & Duarte, 2014;Zhao et al, 2017), there is nothing focused on the opportunity cost of land Games-related venues reside upon.…”

Section: Mega-events Infrastructure Post-event Use and Leveragingmentioning

confidence: 99%

Mega-projects and mega-events: evaluating Vancouver 2010 stadium and convention infrastructure

Sroka

2021

Journal of Sport & Tourism

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This paper evaluates two infrastructure mega-projects connected to the 2010 Winter Olympics in Vancouver's downtown peninsula: the renovation of BC Place Stadium and the Vancouver Convention Centre expansion. These projects correspond to two categories of mega-projects often constructed alongside sporting mega-events with intended tourism development legacies that have a history of financial underperformance. Touching upon literatures concerning megaevents, event leveraging, urban development, as well as the public finance of sport and convention venues, this work focuses on fiscal impacts and opportunity costs for venue site locations where there are already high property values, with the aim of providing lessons for comparable future mega-event hosts contemplating similar event related mega-projects. In addition to arguing for the alignment of venue design to efficiently maximize long term operating returns and event portfolios for tourism development, this article highlights that venue location within a host city shapes the opportunity costs for government investors and that cost overruns to meet a fixed event deadline can undermine what may other be a sustainable financial structure. While a mega-event related stadium or convention centre is at significant risk of becoming a financial loser when considering both capital and operating costs, as well as a suboptimal platform for maximising an event portfolio, this does not have to be the case. Beyond more traditional measures of project return, this article highlights and further develops another key measure of evaluating financial and revenue outcomes, which can be summed up as the opportunity cost of alternative land uses on a venue site.

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Section: Mega-events Infrastructure Post-event Use and Leveragingmentioning

confidence: 99%

Mega-projects and mega-events: evaluating Vancouver 2010 stadium and convention infrastructure

Sroka

2021

Journal of Sport & Tourism

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“…In a study of the impact of the London Olympics announcement on real estate markets, Kavetsos (2012) finds that the announcement has a positive impact on the host boroughs. Yamawaki and Duarte (2014) discuss the impact of the 2000 Sydney Olympic Games on real estate markets in different suburbs in the Sydney metropolitan area, and find the "announcement effect." However, their analysis is more descriptive without using reliable statistical analysis (e.g.…”

Section: Literature Reviewmentioning

confidence: 99%

A longitudinal study of the impact of the Sydney Olympics on real estate markets

Yang

2015

International Journal of Event and Festival Management

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Purpose – The purpose of this paper is to examine the impact of the Sydney 2000 Olympic Games on the residential real estate markets of the host city during the bidding, pre-Olympic and post-Olympic periods. Design/methodology/approach – This study uses a difference-in-differences model to analyze the transaction prices for all properties in New South Wales, Australia for the period from 1980 to 2007. Findings – The paper finds that the impact on real estate markets varies across different suburbs in the host city and over time. The real estate markets of host suburbs experience substantially higher growth during the bidding and pre-Olympic periods but not during the post-Olympic period. However, the property prices in non-host suburbs in the host city increase at a higher rate during the pre- and post-Olympic periods but not during the bidding period. Originality/value – This study offers insights into the long-term impact of the Olympic Games on host suburbs and non-host suburbs in the host city during different periods by analyzing a large longitudinal data set over a period of 27 years.

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Mega-event transport legacy in a developing country: The case of Rio 2016 Olympic Games and its Transolímpica BRT corridor

Yamawaki

Filho

Costa

2020

Journal of Transport Geography

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Olympics and Urban Legacy in Sydney: Urban Transformations and Real Estate a Decade after the Games

Cited by 5 publications

References 22 publications

Mega-projects and mega-events: evaluating Vancouver 2010 stadium and convention infrastructure

Mega-projects and mega-events: evaluating Vancouver 2010 stadium and convention infrastructure

A longitudinal study of the impact of the Sydney Olympics on real estate markets

Mega-event transport legacy in a developing country: The case of Rio 2016 Olympic Games and its Transolímpica BRT corridor

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