Sports facilities can reshape urban neighborhoods in ways that conventional development rarely achieves, according to Kevin Kelley, shareholder at Greenberg Traurig and veteran advisor on sports facility deals since the launch of Coors Field for the Colorado Rockies in the 1990s. Yet the long-term impact of these projects is often difficult for communities to grasp when debating whether to allocate public funds.
“Denver would be a very different place if we didn’t have Coors Field,” Kelley says, pointing to the ballpark’s role in revitalizing the once-blighted Lower Downtown. The same potential exists, he argues, for new projects like the planned Denver summit stadium, which targets an area that has seen little investment for decades.
Andrea Austin, who works with Kelley on sports facility transactions, notes that both the costs and benefits of these projects are challenging to quantify. She explains that while requests for public funding often draw criticism, the broader economic impact of a sports facility is harder to visualize. “The ability of a sports project and facility to transform an economy is challenging to conceptualize,” Austin says.
Public debates typically focus on immediate needs — such as infrastructure repairs — rather than the long-term effects a sports venue can have. These include increased foot traffic before and after games, the attraction of new restaurants and entertainment businesses, improved safety through greater density, and a fundamental change in a neighborhood’s economic prospects.
Austin notes that sports facilities serve as anchors because they draw steady, predictable crowds that support surrounding businesses. She cites the Battery Atlanta, a mixed-use district built around the Atlanta Braves’ ballpark, as a clear example of this approach. “You have an entire development around the ballpark that is now its own destination,” she says.
This model is not limited to major cities or big-league teams. Austin highlights youth sports complexes, minor league baseball parks, USL soccer teams, and independent operations such as the Savannah Bananas as evidence that sports can anchor development in smaller markets. She notes that the Savannah Bananas have created a strong community following, “creating all kinds of new opportunities for development around those types of teams and products.”
Kelley adds that the core ingredients for success are consistent across market sizes. “You can do this in secondary and tertiary markets,” he says. While the details depend on local demand and programming, the foundation — control of the surrounding land and a clear development plan — remains the same.
What sets today’s sports-anchored districts apart from earlier generations of stadium projects, Kelley says, is their staying power. Unlike the dual-purpose stadiums of the 1970s that quickly fell out of favor, mixed-use entertainment districts built around sports venues are now a permanent part of urban planning. “There have been trends in sports venues that come and go, but mixed-use entertainment districts around sports venues are here to stay,” he says.
Kelley notes that while the mix of uses may change over time, the concept of organizing development around a sports anchor is not going away. “The programming may change over time, but the concept is going to be there,” he says.
Austin agrees, describing this as a structural shift in how cities approach growth. She expects the influence of sports and mixed-use development to expand, not contract. “I think we’re in a boom period for sports, catalyzing more development and more activity,” she says.
The rise of sports-anchored districts is especially relevant now, as traditional commercial real estate continues to face persistent challenges. Office vacancies remain high, and many retail spaces are empty. In this environment, sports facilities are reliable generators of foot traffic and economic activity.
Kelley observes that while Denver’s downtown foot traffic has returned to about 90% of pre-pandemic levels, the makeup has shifted from office workers to visitors and residents. “The makeup of our pedestrian traffic is different,” he says. Office workers are not returning to downtown five days a week, but games and events bring people into the city regularly.
This steady flow of visitors creates the conditions for other types of development, restaurants, hotels, apartments, and entertainment venues, to succeed in areas that might otherwise struggle to attract investment.
Austin emphasizes that the most significant growth is occurring not in the sports venues themselves, but in the mixed-use development surrounding them. “Where we see so much growth is in the adjacent mixed-use development,” she explains. Understanding how to activate and phase these developments is where real estate expertise becomes critical, she adds.
Austin points out that structuring these districts requires a different skill set than building a stadium alone. “Because we’re real estate attorneys, we have special insights about this,” she says. Expertise in land use, development phasing, and public-private partnerships is crucial to ensure that the surrounding district thrives alongside the sports facility.
At Greenberg Traurig, Austin and Kelley help clients plan and structure sports-anchored mixed-use districts to maximize value and manage risk. Their experience suggests that this development model has proven effective for urban revitalization across a range of markets and sports levels.
Whether more cities adopt this approach will depend on their willingness to address the political challenges of public funding for sports facilities. But Austin and Kelley see growing recognition of the benefits. As traditional office and retail spaces struggle, cities are increasingly turning to sports-anchored districts to drive economic activity and create vibrant, mixed-use neighborhoods.
The continued success of these districts signals a new era in urban development, where sports facilities serve as engines for broader neighborhood revitalization. Rather than relying solely on office towers or retail centers, cities are turning to sports as a reliable catalyst for foot traffic, investment, and long-term growth.
For policymakers and community leaders, the challenge lies in balancing immediate needs with long-term vision. As the track record of sports-anchored districts grows, the case for investing in these projects becomes clearer, especially for cities seeking to reinvent downtowns and attract new residents and businesses in a changing economic landscape.
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