Los Angeles - Owner of St. Louis Rams plans to build NFL stadium in Inglewood

[Francis A.]

Update of a football team potential move and it affecting Real Estate in Inglewood, Los Angeles etc.

http://www.latimes.com/sports/nfl/la-sp-0105-nfl-la-stadium-20150105-story.html#page=1

[Trevor Ewen]

@Francis A. 

Apparently, these kind of promises have been going on for awhile. On the other hand, St. Louis probably lacks a lot of the high-spending fans you could get to buy tickets in LA. Maybe it's a trade up that could happen. 

[Francis A.]

@Trevor Ewen 

Very true however, this is the first time that an NFL owner in a controlling capacity has actually owned viable land earmarked for an actual building.  Incidentally, The Madison Square Garden ownership group teamed up with Irving Azoff (those of you into music will recognize that name) to totally refurbish the FORUM arena and now mega bands like the Eagles, Phish etc have played many nights there. Hollywood Park race track was demolished and now, there is also a huge mixed used development going on right next door where the Hollywood Casino still stands so who knows?  

[Joshua McGinnis]

It would be great if it actually happened, especially since the article states it would require no public funding. We'll see if it makes the ballot this year.

[Shane W.]

I agree it would be awesome if it comes off. I just feel there's a lot more going on behind closed doors that the public will never hear.

I'm sure @Matt R. is all over it?

[Matt R.]

The rumor was LA gets the next two NFL teams. Looks like Rams for Inglewood and another unknown for downtown LA. Maybe Raiders, or Chargers....they were the LA Chargers originally....but more likely a Buffalo type...or any team willing to piss off a lot of fans for the equity gain.

[Shane W.]

@Matt R. how do you think the stadium at Inglewood will affect residential properties in the area?

I keep reading how Inglewood is on the up so this maybe another reason for it to be on our radar. 

Of course we have to keep in mind that there will only be 8 home games (plus pre season, playoffs and the occasional Super Bowl) each year. So it's not like it's going to be a year round event.

I'm sure there will be concerts and other events but that will only account for an additional 6-8 or maybe 12 weekends of use I would imagine?

Maybe also it would depend on how the whole Hollywood Park development works out?

[Matt R.]

COOL Shane, my @thingy does not work on my tab. But I think longterm Inglewood will be rediscovered as one of the best geoghraphical locations in LA regardless of what the NFL does. Short term the NFL will spark demand but actually not as nearly as significant as Inglewoods location advantage to nearly all of LAs highest paying jobs..westside, LAX, El Porto, Culver,Hollywood, Marina, South Bay, even throw in downtown LA as it is so much closer than most options. etc. The room for improvement in Ingelwood might be second to none that way. There was a reason the Forum and Hollywood Park were located there and those reasons never went away. 

[Shane W.]

Yeah it seems to be picking up momentum to be the next Westchester/Playa Vista boom area. At the moment it still fits the low enough rent for artists to live in. And as the rule goes wherever there's artists, there's going to gentrification eventually.

[Andrew Werner]

Someone has suggested to me that it would be very difficult to permit a stadium in the flight path of LAX.  I would guess that Kroenke has thought through this.

[Suraj Nagrani]

I believe it would definitely spark interest in the area because all of a sudden there would be demands for all kinds of new businesses and what not. There may be only 8-12 games per season but it will create a whole new culture. Whether it's the stores selling the merchandise, the F&B businesses or other the new jobs it would create I think it would no doubt increase the real estate values in the surrounding area. 

Regarding the Raiders, I heard talk of them moving to San Antonio?  

[Francis A.]

@Suraj Nagrani

This is what's going on (not to mention they completely razed an historic Thoroughbred race track to do the following). 

- Rehabilitation of the 120,000 square-foot Pavilion/Casino gaming facility, and

- Construction of a new mixed-use development that contains approximately

- 2,995 dwelling units,

- 620,000 square feet (sf) of retail space,

- 75,000 sf of office/commercial space,

- 300-room hotel,

- 10,000 sf of community serving uses, and

- 25-acre park system with passive and active recreational opportunities.

http://www.cityofinglewood.org/depts/economic_n_co...

[Lee L.]

@Francis A. @Matt R. I've just begun to look into Inglewood. Can you offer any advice on what are seen as nice and not nice? I'm assuming anything beneath the flight path isn't very nice? 

[Troy Fisher]

Originally posted by @Francis A.:

@Trevor Ewen 

Very true however, this is the first time that an NFL owner in a controlling capacity has actually owned viable land earmarked for an actual building.  Incidentally, The Madison Square Garden ownership group teamed up with Irving Azoff (those of you into music will recognize that name) to totally refurbish the FORUM arena and now mega bands like the Eagles, Phish etc have played many nights there. Hollywood Park race track was demolished and now, there is also a huge mixed used development going on right next door where the Hollywood Casino still stands so who knows?  

 Haha, since when has Phish been a mega band?  

[Francis A.]

@Troy Fisher

HA!  Those are serious fighting words to Phish heads far and wide.

This is off topic but in a way quite relevant.

I used to be you (sceptical) until my good buddy turned on the lights for me and it is this:

"The riches are in the niches".

Phish's live tour numbers make them a mega x 2 band. Your "hit bands" today cannot match their numbers. They are truly scary numbers for 4 guys playing instruments on a stage. 

http://blog.priceonomics.com/post/48216173465/the-...

http://mic.com/articles/107524/diplo-and-skrillex-can-t-do-what-phish-does-every-new-year-s-eves

[Matt R.]

Originally posted by @Lee L.:

@Francis A. @Matt R. I've just begun to look into Inglewood. Can you offer any advice on what are seen as nice and not nice? I'm assuming anything beneath the flight path isn't very nice? 

 Lee, I don't have any specifics on exact locations. I am guessing the north western portions could be a start. If I find out more I will let you know. Thx

[Anthony Johnson]

Originally posted by @Lee L.:

@Francis A. @Matt R. I've just begun to look into Inglewood. Can you offer any advice on what are seen as nice and not nice? I'm assuming anything beneath the flight path isn't very nice? 

 Hey Lee,

the Morning Side Park area is great too.  It's just west of the Forum and Hollywood Park Casino...3min driving.  Oh, its about 10min away from LAX.  I read somewhere that the median real estate price is around $455k. & rent is $1,400-$1,500.

[Anthony Johnson]

Originally posted by @Anthony Johnson:

Originally posted by @Lee L.:

@Francis A. @Matt R. I've just begun to look into Inglewood. Can you offer any advice on what are seen as nice and not nice? I'm assuming anything beneath the flight path isn't very nice? 

 Hey Lee,

the Morning Side Park area is great too.  It's just west of the Forum and Hollywood Park Casino...3min driving.  Oh, its about 10min away from LAX.  I read somewhere that the median real estate price is around $455k. & rent is $1,400-$1,500.

My bad, Morning Side Park is east of the the forum, Hollywood Park.

[Shane W.]

Looks like we're one step closer to getting a NFL team in Los Angeles.

http://la.curbed.com/archives/2015/01/inglewood_nf...

[Francis A.]

@Shane W. 

@Amen

@Cool news!

@ This is really just "down the street" from you.