Now that word is out about NFL owners voting 30-2 to bring the Rams back to L.A., to play at the proposed Inglewood stadium, the city is buzzing with excitement. Residents can expect their city to be in the limelight for years to come. First there is the period of 2 or more years that it will take to complete the new $1.9 billion stadium, then the first season when the Rams will make their grand return to L.A. There is a chance that the Rams may share the stadium with the San Diego Chargers.
As you know, there is plenty of big money riding on this stadium, particularly for NFL owners. Locally, real estate developers and corporations stand to make a tidy profit. Since 2012, even before the Inglewood City Council voted in favor of the stadium, property values have risen over 52 percent.
It is a huge undertaking which may have some residents leary about what will happen to their stake in the city. I want to encourage everyone to look for and take advantage of the benefits which can come from this project.
For small business owners, this is definitely a boom to the economy. The stadium is being built next to the Hollywood Park Tomorrow Project, already planned for 3,000 new homes, a hotel, retail shopping, restaurants and corporate offices. There is huge potential here for small businesses to increase their revenue or even partner with other businesses to attract future customers. Savvy business owners will be on the look out for vendor bidding opportunities with the stadium.
Community organizations will have new resources for youth sports camps and other activities, along with sponsorship opportunities.
Homeowners can expect property values to rise even higher and increase their equity.
In addition to the thousands of jobs expected to be provided through Hollywood Park development, there will be plenty of living wage jobs at the stadium and with the league.
Tax revenues will benefit everyone in the city and go toward vital services that improve the quality of life like senior and youth programs, street improvement, public safety, and beautification projects.
Finally, there is the benefit of being part of history in the making. The L.A. market has been without a home team for more than 20 years! And now, Inglewood will host the Rams and most likely the Chargers as well. Think of what this will do for families who have never been able to take their children to a live football game in the area.
Change can be unsettling, and it may take awhile to get used to the “new Inglewood.” It will be an easier transition, though, if you keep updated about what is going on in Inglewood and what is to come. Keep reading Inglewood Today, visit our website at www.inglewoodtoday.com or the city’s website at www.cityofinglewood.org. Attend the council meetings in Inglewood City Hall on Tuesdays at 2pm.
Kudos to Mayor Butts, council members, other city officials, developers, and Inglewood voters for their vision and faith for the future. The best is yet to come.