Evaluation Of The Revitalization Project

1591 WordsDec 6, 20167 Pages
2. Discussion 2.1 Actors, Interests and Strategies Used The revitalization project came to fruition when the owner of the Rams, Stan Kroenke, purchased 60 acres of land just north of the Hollywood Park site (Farmer and Vincent). This action spurred immediate speculation: What was the purpose of buying this land? Will it be used as a possible stadium site? Training facility for the Rams? Then, it was later revealed that Kroenke had partnered up with Stockbridge Capital Group, owners of the 238-acre Hollywood Park site that was adjacent to his purchased 60-acre land (Farmer and Vincent). The two real estate moguls combined their respective acres of land into one enormous, vacant land mass of property, making it the perfect location to build infrastructure that was capable of producing a generous amount of income — an exceptional return investment. Together, they joined efforts through the Hollywood Park Land Co (HPLC) venture to redevelop Hollywood Park by adding a sports and entertainment district with an 80,000-seat stadium and 6,000-seat performance venue to a previously approved development plan consisting of retail, office, hotel and residential space (Hollywood). Many were excited about the news announcement; for instance, the Rams team looked forward to playing football in a brand new stadium. It was widely well-known that the team was unhappy with the Edward Jones Dome in St. Louis (representative city prior to relocation) since it was immensely outdated by current
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