Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBFOM All Private Finance
# of Projects: 1
100% of the Results

Background informationProject Created: June 16, 2017

Project Name: LA Stadium and Entertainment District at Hollywood Park
Year in Operation: 2020
Sector: Buildings
Subsector: Sports Venue
Status: Design / Construction
Type: New Facility
Description: The Los Angeles Stadium and Entertainment District at Hollywood Park will transform the site of the former Hollywood Park Racetrack to a year-round sports and entertainment destination in the center of the Los Angeles basin. The project covers 298 acres located close to I-405, I-105, and LAX. The centerpiece is a 70,000-seat stadium that will be the home of NFL games for both the Los Angeles Chargers and Los Angeles Rams, as well as concerts and entertainment year-round. The District Plan includes: 1. 70,000 seat open air stadium, expandable up to 100,000 seats 2. 6,000-seat performing arts venue 3. 780,000 square feet of office space 4. 890,000 square feet of retail space 300 hotel rooms 5. 2,500 residences 6. Approx. 25 acres of public parks, open space, pedestrian walkways and bicycle paths 7. Family and fine dining 8. State-of-the-art event, conference and meeting space
Delivery Method as described in the country where it's located: Privatization
Is the project still active: Yes
Comments: This is a fully private development, entered as a comparison to publicly sponsored stadiums in other cities. The owners are expected to request indirect support through government tax incentives. Two professional NFL franchises will be tenants of the stadium facility. Much of the rest of the Entertainment District will be privately developed and owned or leased.

Project Locations

Address: 1050 S. Prairie Ave.
City: Inglewood
State: California
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Inglewood City Council approved plans in 2015 to combine two parcels (a 60-acre parcel with the larger Hollywood Park racetrack parcel) and to rezone the entire are to include sports and entertainment capabilities.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: No direct public cash support for the project. The SPONSOR of this project is a PRIVATE entity, not public. Kroenke Sports & Entertainment, Hollywood Park Land Company, LLC (the Owner) is seeking to obtain tax incentives from government entities.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: The initial development is focused on the Stadium - estimated to cost $2.6 Billion. Hollywood Park Land Company, LLC (a Joint Venture) is financing the project through an undisclosed combination of equity and debt, backed, in part by tenant commitments from two NFL football teams (the Los Angeles Rams and the Los Angeles Chargers). The two major tenants of the stadium - both NFL teams - are expected to combine all revenues from the project - allocating a portion to retire debt and pay ongoing expenses, and splitting the rest.

Checkbox Checked

From Producers as Equity: Mix of debt and equity is not disclosed.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independent checking engineer? No
Project Finance Method: All By Private Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
30
0
Forms
Description
Don't Know
This is a PRIVATELY SPONSORED development - listed to compare against PUBLICLY Sponsored stadium developments in others cities. Assumed term of 30 years - is the assumed length of the lease between the owner and its two major tenants - NFL teams. 

Project Value (If and As Known)

Date of Estimated Project Value: December 14, 2016
Project Value
Hard Cost
Hard & Soft Costs
Construction
$1-5 Billion US
$1-5 Billion US
Total
$2-10 Billion US
$2-10 Billion US

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