An investment group controlled by the owner of the St. Louis Rams NFL team has joined forces with Stockbridge Capital Group, which owns the 298-acre Hollywood Park site in Inglewood, Calif., to add an 80,000-seat football stadium and 6,000-seat performance arena to a massive mixed-use development Stockbridge already has in the works, according to the Los Angeles Times and other news reports.
A year ago, Kroenke Group purchased 60 acres of land adjacent to the Forum arena in Inglewood. With its deal with Stockbridge, Kroenke Group’s owner, billionaire real estate developer Stan Kroenke, becomes the first existing NFL owner to control enough land in the Los Angeles market to accommodate a football stadium and parking since the Rams left L.A. for St. Louis after the 1994 season.
For decades, team owners in other cities have used the threat of relocating to Los Angeles as leverage for negotiating improvements to their own stadiums from local municipalities or states. And Kroenke has expressed displeasure with the conditions of Edward Jones Dome in St. Louis, where the Rams currently play.
The Times reports that next month the Rams can opt out of its 30-year lease in St. Louis 10 years early and convert it to a year-to-year arrangement. But the earliest the Rams could relocate to Los Angeles would be 2016.
No tax dollars would be used to build the Hollywood Park development, including the stadium. The investors are already gathering signatures to put the project onto the city’s municipal ballot this year. Inglewood’s Mayor James Butts, Jr. is on record supporting this project, which the investors have dubbed the City of Champions Revitalization Project.
The developer Wilson Meany, with offices in L.A. and San Francisco, is heading up this development, which, if approved, could be completed by 2018. HKS Architects is also involved in this project.
Kroenke and Stockbridge’s proposal is competing with at least two other plans for new stadiums in or around L.A. The entertainment giant AEG, which owns this city’s professional hockey and soccer teams, wants to build a $1.5 billion football stadium in downtown L.A., called Farmers Field, along with a new wing for the city’s nearby convention center. Another real estate magnate, Ed Roski, has had a stadium plan for City of Industry, Calif., on the table for several years. However, neither of these competing plans has mustered a commitment from an NFL team to relocate.
The Hollywood Park project would include more than 4 million sf of retail, office, and residential space, and 25 acres of parks. But to move forward, the Rams would have to commit to moving, and the project would need to get past any political or environmental opposition.
Related Stories
Building Team | Jun 1, 2022
Pennsylvania’s Longwood Gardens to get a $250 million transformation
Longwood Gardens, a botanical garden with about 1,100 acres in Pennsylvania’s Brandywine Valley, recently announced plans to transform its core area of conservatory gardens.
Mass Timber | May 31, 2022
Tall mass timber buildings number 139 worldwide
An audit of tall mass timber buildings turned up 139 such structures around the world either complete, under construction, or proposed.
Hotel Facilities | May 31, 2022
Checking out: Tips for converting hotels to housing
Many building owners are considering repositioning their hotels into another property type, such as senior living communities and rental apartments. Here's advice for getting started.
Museums | May 31, 2022
University of Texas at Dallas breaks ground on new 12-acre cultural district
The University of Texas at Dallas (UT Dallas) recently broke ground on the Crow Museum of Asian Art, the first phase of a new 12-acre cultural district on campus.
BAS and Security | May 26, 2022
Can your intelligent building outsmart hackers?
ESD's security services studio leader Coleman Wolf offers tips, advice, and lessons for protecting real estate assets from cyberattacks.
Sports and Recreational Facilities | May 26, 2022
WNBA practice facility will offer training opportunities for female athletes and youth
The Seattle Storm’s Center for Basketball Performance will feature amenities for community youth, including basketball courts, a nutrition center, and strength and conditioning training spaces.
Multifamily Housing | May 25, 2022
9 noteworthy multifamily developments to debut in 2022
A 1980s-era shopping mall turned mixed-use housing and a mid-rise multifamily tower with unusual rowhomes highlight the innovative multifamily developments to debut recently.
Coronavirus | May 20, 2022
Center for Green Schools says U.S. schools need more support to fight COVID-19
The Center for Green Schools at the U.S. Green Building Council released a new report detailing how school districts around the country have managed air quality within their buildings during the second year of the COVID-19 pandemic.
Regulations | May 20, 2022
Biden’s Clean Air in Buildings Challenge aims to reduce COVID-19 spread
The Biden Administration recently launched the Clean Air in Buildings Challenge that calls on all building owners and operators, schools, colleges and universities, and organizations to adopt strategies to improve indoor air quality in their buildings and reduce the spread of COVID-19.
Building Team | May 20, 2022
Caltech breaks ground on a new center to study climate and sustainability
The California Institute of Technology (Caltech) recently broke ground on its Resnick Sustainability Resource Center.