The city of Los Angeles is abuzz with the excitement of bringing back NFL football to the City. The much anticipated construction of an 80,000-seat stadium, with shopping, dining and nightlife has led to a prediction that this complex will quickly become the “NFL Disney World Experience.” It is anticipated that this new stadium extravaganza will be the most expensive sports arena in the world.
The goal is to build the stadium so that it has the capacity to exceed 100,000 people for special events and entertainment opportunities. The developers have even announced their goal of hosting the Super Bowl once the stadium is completed and operational. The ambition of developers and planners is to be more than the NFL home of the Rams, but to become the foundation for various sports, music, and entertainment; creating a whole new entertainment district in Inglewood.
The 300-acre development is located just miles from downtown Los Angeles. The LA Rams will return to their home city, after official approval was granted by both the NFL and the City of Inglewood. The entire complex development has an estimated price tag of $2.6 billion, more than a billion dollars beyond New Jersey’s MetLife Stadium, which is the current record holder.
Site preparation began in 2015, with the bulk of the work expected to get underway very soon. Excavation has begun and signs of progress are cropping up with each passing day. A grading permit for the site was issued to developers by Inglewood, and the real digging and grading is set to last from October to March or April. The stadium is listed for completion in 2019.
In addition to the stadium structure itself, the surrounding areas will see a new community rise with more than 3,000 new residential units, a manmade lake, and a remodeled casino. The Hollywood Park Casino will move to a larger spot next to the existing casino and is expected to be complete in 2023. The list of potential opportunities in the surrounding areas is limitless.
There has been a mixed reception to the idea of a newly polished Inglewood. While many were thrilled that the new stadium will bring in new business, others fear what might come of those who were part of “old Inglewood.”. A documentary by Loyola Marymount Film School student Diona Okunbo evaluates both sides of this project, by investigating the feelings of community members and leaders. The video offers a juxtaposition of excitement over growth and potential, as well as apprehension held by some Inglewood residents about the effects that might hit surrounding neighborhoods. Both sides have agreed that the upside will be the steadily climbing property values as more homes, businesses and opportunities are offered.
If you are interested in learning more about the many beautiful luxury homes available in Southern California you can contact one of our real estate professionals. We specialize in high-end homes in the most sought after neighborhoods in Southern California.
$2,000,000 : 650 KELTON Avenue #203, Los Angeles3 beds, 4 baths
$3,850,000 : 824 N LA JOLLA Avenue, Los Angeles5 beds, 5 baths
$2,295,000 : 6141 LINDENHURST Avenue, Los Angeles3 beds, 3 baths
$2,540,000 : 2110 ALCYONA Drive, Los Angeles5 beds, 5 baths
$3,090,000 : 310 N LUCERNE, Los Angeles4 beds, 5 baths
See all City of Los Angeles Luxury Homes For Sale.
(all data current as of 10/17/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.