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
| Aug 8, 2013
Top Science and Technology Sector Architecture Firms [2013 Giants 300 Report]
HDR, Perkins+Will, HOK top Building Design+Construction's 2013 ranking of the largest science and technology sector architecture and architecture/engineering firms in the U.S.
| Aug 8, 2013
Top Science and Technology Sector Construction Firms [2013 Giants 300 Report]
Skanska, DPR, Suffolk top Building Design+Construction's 2013 ranking of the largest science and technology sector contractors and construction management firms in the U.S.
| Aug 8, 2013
Level of Development: Will a new standard bring clarity to BIM model detail?
The newly released LOD Specification document allows Building Teams to understand exactly what’s in the BIM model they’re being handed.
| Aug 8, 2013
Vertegy spins off to form independent green consultancy
St. Louis-based Vertegy has announced the formation of Vertegy, LLC, transitioning into an independent company separate from the Alberici Enterprise. The new company was officially unveiled Aug. 1, 2013
| Aug 5, 2013
Top Retail Architecture Firms [2013 Giants 300 Report]
Callison, Stantec, Gensler top Building Design+Construction's 2013 ranking of the largest retail architecture and architecture/engineering firms in the United States.
| Aug 5, 2013
Top Retail Engineering Firms [2013 Giants 300 Report]
Jacobs, AECOM, Henderson Engineers top Building Design+Construction's 2013 ranking of the largest retail engineering and engineering/architecture firms in the United States.
| Aug 5, 2013
Retail market shows signs of life [2013 Giants 300 Report]
Retail rentals and occupancy are finally on the rise after a long stretch in the doldrums.
| Aug 5, 2013
Top Retail Construction Firms [2013 Giants 300 Report]
Shawmut, Whiting-Turner, PCL top Building Design+Construction's 2013 ranking of the largest retail contractor and construction management firms in the United States.
| Aug 2, 2013
Michael Baker Corp. agrees to be acquired by Integrated Mission Solutions
Michael Baker Corporation (“Baker”) (NYSE MKT:BKR) announced today that it has entered into a definitive merger agreement to be acquired by Integrated Mission Solutions, LLC (“IMS”), an affiliate of DC Capital Partners, LLC (“DC Capital”).
| Jul 31, 2013
Hotel, retail sectors bright spots of sluggish nonresidential construction market
A disappointing recovery of the U.S. economy is limiting need for new nonresidential building activity, said AIA Chief Economist, Kermit Baker in the AIA's semi-annual Consensus Construction Forecast, released today. As a result, AIA reduced its projections for 2013 spending to 2.3%.
