BY KASOWITZ BENSON TORRES LLP, COMMERCIAL OBSERVER
The Hollywood Park Project in Inglewood, Calif., will not only provide a new urban focus for the Los Angeles region, but at 300 acres will also constitute the largest urban development site in the western United States.
This was one of the fascinating details revealed about the new project during a conversation between Darwin Huang, partner at Kasowitz Benson Torres LLP, and Christopher Meany, managing partner at the San Francisco-based development firm Wilson Meany, during the latest installment of a new executive video series hosted by Kasowitz Benson Torres and produced with Commercial Observer.
The Inglewood site, initially based around 238 acres of racetrack and casino space, has been completely reimagined for a variety of uses, from residential and office to hotels, retail and large-scale leisure, entertainment, and community space.
The project was conceived by L.A. Rams owner and veteran developer Stan Kroenke.
“Stan saw the opportunity to create a real city within greater Los Angeles at Hollywood Park, a place where we could create a new urban focus for the L.A. region,” said Meany.
Meany pointed out that the complex’s location makes it a prime focal point for the area.
“Inglewood is six miles off the beach, and a mile or two from both the 405 and 105 freeways, which means, in L.A. parlance, that we are really at the very center of the region,” said Meany. “There are nearly a million people that live within just miles of the Hollywood Park site, and yet in the middle of all that density we have 300 acres, which makes it the largest urban development site in the western United States. So the location is truly special, and the scale is unprecedented.”
Meany also said that Inglewood was one of the few densely populated areas in Los Angeles that was underserved by retail, adding to Hollywood Park’s importance for the region.
“The retail is designed as a main street, a promenade with a secondary alley that allows us to showcase national retailers in big formats at one level, and still have plenty of room for local businesses that really are unique to our market,” said Meany. “And, of course, laced through with great public plazas.”
The retail in Hollywood Park is opening in phases, with 65 percent currently leased. But looking ahead, Meany has no doubt that Hollywood Park will become “the most important new district in all of Los Angeles.”
“The most powerful new venues in Los Angeles are at Hollywood Park,” said Meany. “SoFi Stadium and YouTube Theater. Cosm [an immersive entertainment venue]. Our great movie partner in Cinépolis. Our courtyards and plazas that hold events both large and small. This is a new retail district surrounded by what will be 2,500 new homes and the NFL’s new West Coast headquarters and so many other vital businesses, all at the center of a trade area in Los Angeles that has nearly a million people six miles off the beach. It’ll be the most important location in Los Angeles.”