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
| May 9, 2012
Tishman delivers Revel six weeks early
Revel stands more than 730 feet tall, consists of over 6.3 milliont--sf of space, and is enclosed by 836,762-sf of glass.
| May 9, 2012
Stoddert Elementary School in DC wins first US DOE Green Ribbon School Award
Sustainable materials, operational efficiency, and student engagement create high-performance, healthy environment for life-long learning.
| May 9, 2012
Shepley Bulfinch given IIDA Design award for Woodruff Library?
The design challenges included creating an entry sequence to orient patrons and highlight services; establishing a sense of identity visible from the exterior; and providing a flexible extended-hours access for part of the learning commons.
| May 9, 2012
Construction Defect Symposium will examine strategies for reducing litigation costs
July event in Key West will target decision makers in the insurance and construction industries.
| May 8, 2012
WDMA and AAMA release window, door & skylight market studies
Historic data for 2006 through 2011 and forecast data for 2012 through 2015 are included in the report.
| May 8, 2012
Study presents snapshot of domestic violence shelter services
Unique partnership of architects and domestic violence advocates brings new strategies for emergency housing.
| May 8, 2012
Gensler & J.C. Anderson team for pro bono high school project in Chicago
City Year representatives came to Gensler for their assistance in the transformation of the organization’s offices within Orr Academy High School, which also serve as an academic and social gathering space for students and corps members.
| May 8, 2012
Skanska USA hires Zamrowski as senior project manager
In his new role at Skanska, Zamrowski will serve as the day-to-day on-site contact for select Pennsylvania-based projects during all phases of construction.
| May 8, 2012
Morgan/Harbour completes three projects at Columbia Centre
Projects completed on behalf of property owner, White Oak Realty Partners, LLC, Pearlmark Realty Partners, LLC and Angelo Gordon & Co.
