After hearing the news of the Rams moving to LA it made me think about how the nets moving to Brooklyn impacted the real estate in that area. I wish I was in a better financial position to take advantage of the Rams moving to inglewood, However what are the impacts of a professional team moving to a area change real estate economics? And how can someone capitalize on the Rams moving to inglewood?
It certainly implies more jobs. Inglewood is a lots of high density MFU apts, but I have no data on vacancies.
The Rams moving in and the football stadium itself mean pretty little IMHO (as much as I like it as a child Rams fan). After all Inglewood pretty much went on the decline after the Forum was opened in the late 60's so a stadium is no panacea especially if people just drive in and then drive out, which is what happened at the Forum.
However, the development Kroenke and Stockbridge Capital are building at Hollywood Park is much more than just a stadium (Stockbridge was already going to build there before Kroenke bought his parcel and they combined the project). NFL studios, housing, a new concert venue, hotel, office, and some retail will be involved. They have 300+ acres and that is a lot of space to redevelop in a Metro area where that kind of land does not just come up in a central, non-mountainous location. Now that the Forum has reopened as a concert venue it can synergize along with that as well.
I was in Downtown Inglewood a few months ago. It has a nice feel and setup, but is pretty run down with not much business. A Metro stop is being built a block or two away however and set to open in 2019. That should give the Downtown area a nice pickup.
Good looking out Chad. I'll just comment that the area suffers from blight and is already congested. Get fire insurance, seriously. It's not hard to find a dilapitated property. Might be a value add in the rehab when the jobs surface. The 405/105 interchange is already congested, imagine when there's a game? I'd open a local tow truck company as parking is already limited.
Account Closed speaks of will add housing, shoping, and job growth to an already evolving Inglewood.
As far as the Downtown area of Inglewood, I recall reading in Inglewood Today that an Ingewood native was commisioned to revitalize the area, further adding to improvement of the city.
I hope this helps.
NA Beard thanks for that info because me being a current resident of North Carolina I automatically assumed you could just pick up some property than get paid later to move because a future business owner or team needing the property. Sound like that may not be the case
@Anthony Johnson thanks for that info I assumed that would be the case for the area.
The people that got the best of this deal got in it YEARS ago! And how smart is the man holding the property where the stadium will go? Hes been holding the largest unbuilt lot in LA for decades. PAYDAY for him! Be Great!