This study examines how differently young residents’ experiential value and sense of community mediate the perceived positive and negative effects of a convention center on levels of overall community satisfaction in an integrative model based on social exchange theory. Results show that perceived positive convention center impacts, directly and indirectly, affect experiential value, sense of community, and overall community satisfaction. However, perceived negative convention center impacts, directly and indirectly, affect overall community satisfaction only through experiential value. This study provides both theoretical and practical implications, as well as directions for future research.