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
| Apr 17, 2012
Princeton Review releases “Guide to 322 Green Colleges”
The guide profiles 322 institutions of higher education in the U.S. and Canada that demonstrate notable commitments to sustainability in their academic offerings, campus infrastructure, activities and career preparation.
| Apr 17, 2012
FMI report examines federal construction trends
Given the rapid transformations occurring in the federal construction sector, FMI examines the key forces accelerating these changes, as well as their effect on the industry.
| Apr 17, 2012
Freese and Nichols awarded Malcolm Baldridge National Quality Award
Freese and Nichols is the only engineering and architecture firm to ever receive this recognition.
| Apr 17, 2012
Miramar College police substation in San Diego receives LEED Platinum
The police substation is the first higher education facility in San Diego County to achieve LEED Platinum Certification, the highest rating possible.
| Apr 17, 2012
Alberici receives 2012 ASA General Contractor of the Year award
Alberici has been honored by the ASA eight times in the award’s nineteen-year history--more than any other general contractor in its class.
| Apr 16, 2012
Freeland promoted to vice president at Heery International
Recently named to Building Design+Construction’s 40 Under 40 Class of 2012.
| Apr 16, 2012
University of Michigan study seeks to create efficient building design
The result, the researchers say, could be technologies capable of cutting the carbon footprint created by the huge power demands buildings place on the nation’s electrical grid.
| Apr 16, 2012
UNT lab designed to study green energy technologies completed
Lab to test energy technologies and systems in order to achieve a net-zero consumption of energy.
| Apr 16, 2012
Shawmut awarded Tag Heuer builds in Florida and Pennsylvania
Both projects are scheduled to be completed this spring.
| Apr 16, 2012
Batson-Cook breaks ground on senior living center in Brunswick, Ga.
Marks the third Benton House project constructed by Batson-Cook.
