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
| Dec 17, 2014
ULI report looks at growing appeal of micro unit apartments
New research from the Urban Land Institute suggests that micro units have staying power as a housing type that appeals to urban dwellers in high-cost markets who are willing to trade space for improved affordability and proximity to downtown neighborhoods.
| Dec 17, 2014
11 predictions for high-rise construction in 2015
In its annual forecast, the Council on Tall Buildings and Urban Habitat predicts that 2015 will be the "Year of the Woodscraper," and that New York’s troubled B2 modular high-rise project will get back on track.
| Dec 17, 2014
Demand softens, but outlook for Architecture Billings Index remains positive
The AIA's Architecture Billings Index for November was 50.9, down from a mark of 53.7 in October. Despite the drop, the ABI continued its seven-month run of positive scores (above 50).
Sponsored | | Dec 16, 2014
Quadcopters save project team $15K in warranty work
On a recent trip to see what technology Todd Wynne and the rest of the team at Rogers-O’Brien Construction have been tinkering with, I had a chance to experience firsthand which new hardware innovations will one day be applied in the AEC space.
| Dec 16, 2014
Architect Eli Attia sues Google over tall building technology
Attia and tech company Max Sound Corp. have brought a lawsuit against Google because of Flux, a Google X-developed startup launched in 2014. Flux creates software to design environmentally-friendly buildings in a cost-effective way.
| Dec 15, 2014
SHoP Architects plans to turn NY's Seaport District into pedestrianized, mixed-use area
The scheme includes a proposed 500-foot luxury residential tower that would jut out into the harbor, extending the Manhattan grid out into the waterfront.
| Dec 15, 2014
Frank Lloyd Wright School of Architecture launches fundraising campaign for independent incorporation
The Frank Lloyd Wright Foundation announced today that it approved a possible path toward independent incorporation of the Frank Lloyd Wright School of Architecture by raising $2 million before the end of 2015.
| Dec 15, 2014
Studio Gang tapped for American Museum of Natural History expansion
Chicago-based Studio Gang Architects has been commissioned to design the $325 million Gilder Center for Science, Education and Innovation at the American Museum of Natural History in New York.
| Dec 12, 2014
Dunkin’ Donuts launches certification for green restaurant buildings
The company aims to build 100 new DD Green-certified restaurants by the end of 2016.
| Dec 12, 2014
COBE's striking 'concrete finned' scheme wins competition for Adidas' flagship building in Germany
Danish firm COBE has been announced the winner in a contest to design a new Adidas flagship building in Herzogenaurach, Germany. It beat out 29 other teams, including REX and Zaha Hadid.
