It is the great debate in building stadiums. Do stadiums spark actual economic development in the communities surrounding them or is it just pushing out the old neighborhood in ever increasing urban sprawl and gentrification? A lot of politics get involved. Both sides get economists that say exactly what they want said.
Both sides are usually only partly correct in selling their narrative of things. And the march of corporate and economic development usually wins — for better and for worse.
Downtown Orlando continues to see a transformation spurred in part from the Downtown Venues package approved in 2007. It finally saw its completion with the construction of the Dr. Philips Center for the Performing Arts and the finished renovation of the Orlando Citrus Bowl.
The Magic have reaped the rewards of the new Amway Center and Orlando City is enjoying the confines of the new Citrus Bowl before their completely privately financed stadium begins construction in the Parramore District soon. The Magic will begin building their entertainment district across from Amway Center soon.
In the meantime, the spike in sports options downtown is bringing people to the Parramore District and the upcoming development is bringing businesses to the area.
Kyle Arnold of the Orlando Sentinel writes interest in property in the area is as high as it has ever been. The coming development and the people it promises to bring is changing the perception of the Parramore area. These people know a business opportunity when they see one.
We are seeing interest from all over the world,” said Philip Cowherd, who the Sentinel reports owns nearly an entire city block along West Church Street. “The only reason West Church Street is not full of chain restaurants is that the demographics don’t match their profile. It’s going to take the local business owners to change things here.”
Opponents to the venues and the building of these entertainment districts will likely argue this is a case of gentrification. That is a political issue this blog is not going to touch. Not without more extensive research.
The clear thing is right now that developers and real estate buyers are starting to move into the Parramore area sensing the opportunities that will be growing and developing in the coming years.
What the Orlando Sentinel article does note however is that most of the business moving into this area are not chains. Parramore still has to fight a perception of poverty and crime that likely gets addressed once the corporate interests begin to move in more seriously. Go ahead and insert your eye rolling and anger at discriminatory police practices now.
But business are moving in. They are largely locally owned businesses.
Typically this is the kind of economic growth stadium boosters promise and fail to deliver. Even with the Amway Center, local vendors got upset because the arena would not let patrons bring their food into the arena (a frankly silly argument) and then they complained about getting boxed out of the All-Star Game and now moved out for the Magic’s entertainment complex.
There should be plenty more options though as the Amway Center Entertainment District comes in but there is plenty of opportunity to open businesses between the entertainment district and the new Orlando City Soccer stadium.
There is plenty of opportunity for economic development and growth for local businesses. It seems this stadium deal is going to bring the growth they promised. Or at least, that is how things feel right now.
