Real Estate and Property
Did the pursuit expansion lead genuine estate cost to prosper? Was there mercantile crawl with the mall in which area which valid to be worse for the area? What arrange of areas did the best? What it indispensably the genuine estate closest to the mall, or the nicer neighborhoods closest to the mall? Would the genuine estate investment similar to this be the receptive to advice investment if it were to occur again?
2 Responses for "What effects did the Mall of America have on the residential real estate in the surrounding area?"
i think it depreciated the value of real estate bc of the traffic, noise
efb is right about the traffic and noise being a problem.
What’s not mentioned is what the area was before. This site was home to two different stadiums in the past. There were no new homes built anywhere near it for decades.
It also happens to be across the highway from the airport. Noise from the airplanes is a big factor in that area already, and if anything, that’s gotten worse with the building of a new runway.
The jobs in the mall are primarily low-paying. $10/hr. or less, much of it geared to younger people. These aren’t jobs that will pay enough to buy a home, most of them at least.
Final answer to your question: No, the MOA did not increase the value of homes nearby. If anything, I would think it’d be a poor investment to buy homes near a massive traffic-creating project. Unless you owned the land they wanted to buy to develop, that’d make you some nice profit.
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