Sunday, November 19, 2017

Why 20 is the new 40 (RIP, Georgia Dome)

Tomorrow morning, Atlanta will blow up a perfectly-good stadium because, mostly, it has a roof that doesn't retract.

The stadium, fit to host Super Bowls and decades worth of SEC championships will be imploded after just 25 short years...once again proving that stadiums have pretty much zero equity (or in the case of Atlanta or Montreal's domes, negative equity) once a team decides its done playing there.

Let's flashback to my "20 is the new 40" post:
For a long time, stadiums were considered investments that would pay dividends for 40 or more years. That includes buildings such as Fenway Park, Wrigley Field, Yankee Stadium, and Dodger Stadium. Like a skyscraper, the facilities were simply built to last.

But the pressure on cities to "keep up with the Joneses" has slashed the perceived lifespan of a stadium in half, often eliminating the net benefits to the communities that spend huge amounts of money to build them.
Few pro teams stay in one place for more than a dozen years now without demanding more taxpayer-subsidized upgrades.  And by the time a stadium turns 20, it's already time to plan its replacement.
New stadiums are more state-of-the-art than ever...which makes it all-the-more ironic that society feels the need to replace the half-billion-dollar buildings every 20 years.
Before you dismiss this as just crazy Georgians being Georgians...check out this 2010 Shadow of the Stadium post that suggests no city in America is safe from the 20-year-old itch:  "Replace the Georgia Dome" Talk Troublesome

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