http://www.losangelesfootballstadium.com/
Roski Will Unveil Plan for NFL Stadium in Los Angeles (Update1)
By Daniel Taub
April 17 (Bloomberg) -- Developer Edward P. Roski Jr. will unveil plans today to build a National Football League stadium in Los Angeles in an effort to lure a team to the city.
The arena would be built on an almost 600-acre site in the City of Industry and include 75,000 seats and 175 suites, according to a stadium Web site. It would be surrounded by a complex including a shopping mall, office buildings, restaurants, a movie theater and a Broadway-style theater.
Roski, part owner of the city's Lakers basketball and Kings hockey teams and chief executive officer of Majestic Realty Co., has sought to bring professional football back to Los Angeles for more than a decade. Eleven years ago, Roski teamed with billionaire Philip F. Anschutz in an unsuccessful bid to gain an NFL expansion team for the Los Angeles Memorial Coliseum.
Roski plans to make the announcement this morning at Staples Center, the basketball-and-hockey arena he helped build with Anschutz. He calls his new project Los Angles Stadium. He didn't immediately return a message left at his office.
``We're aware of it and we will monitor developments,'' Greg Aiello, a spokesman for the NFL, said of Roski's plan.
Los Angeles, the second-largest U.S. city, has been without an NFL team since 1995, when the Raiders moved back to Oakland, California, after playing at the Coliseum for 13 years, and the Rams left nearby Anaheim for St. Louis.
Super Bowl Plan
The new arena would anchor 2.9 million square feet of commercial space, including 1.5 million square feet of office buildings, 833,000 square feet of retail shops, 162,000 square feet of restaurants, a 5,000-seat live theater, and movie theaters with 1,200 seats. It would be expandable to 80,000 seats for Super Bowl games.
The stadium would cost about $800 million and be ready for the 2011 football season, Roski said in an interview with the Los Angeles Times yesterday. Roski wants the NFL to provide a $150 million loan and commit to holding at least one Super Bowl there, the newspaper reported on its Web site.
Roski was ranked No. 195 on last year's Forbes list of the 400 richest Americans, with an estimated net worth of $2.3 billion. His company is a closely held developer of industrial, retail and other commercial properties. It owns, manages and leases about 70 million square feet of space.
In addition to the Coliseum, the Rose Bowl in Pasadena as well as sites in the cities of Anaheim, Carson, Inglewood and Irwindale have been pitched to the league as stadium sites by other developers.
The City of Industry location is about 25 miles (40 kilometers) east of the Coliseum.
California lawmakers yesterday pulled a proposal backed by the City of Industry to divert $829 million in county property tax revenue from basic government services to subsidize development projects, the Los Angeles Times reported today. Opponents of the measure, including Los Angeles County Supervisor Gloria Molina, said the money shouldn't be used just to attract an NFL team, the newspaper reported.
Roski Will Unveil Plan for NFL Stadium in Los Angeles (Update1)
By Daniel Taub
April 17 (Bloomberg) -- Developer Edward P. Roski Jr. will unveil plans today to build a National Football League stadium in Los Angeles in an effort to lure a team to the city.
The arena would be built on an almost 600-acre site in the City of Industry and include 75,000 seats and 175 suites, according to a stadium Web site. It would be surrounded by a complex including a shopping mall, office buildings, restaurants, a movie theater and a Broadway-style theater.
Roski, part owner of the city's Lakers basketball and Kings hockey teams and chief executive officer of Majestic Realty Co., has sought to bring professional football back to Los Angeles for more than a decade. Eleven years ago, Roski teamed with billionaire Philip F. Anschutz in an unsuccessful bid to gain an NFL expansion team for the Los Angeles Memorial Coliseum.
Roski plans to make the announcement this morning at Staples Center, the basketball-and-hockey arena he helped build with Anschutz. He calls his new project Los Angles Stadium. He didn't immediately return a message left at his office.
``We're aware of it and we will monitor developments,'' Greg Aiello, a spokesman for the NFL, said of Roski's plan.
Los Angeles, the second-largest U.S. city, has been without an NFL team since 1995, when the Raiders moved back to Oakland, California, after playing at the Coliseum for 13 years, and the Rams left nearby Anaheim for St. Louis.
Super Bowl Plan
The new arena would anchor 2.9 million square feet of commercial space, including 1.5 million square feet of office buildings, 833,000 square feet of retail shops, 162,000 square feet of restaurants, a 5,000-seat live theater, and movie theaters with 1,200 seats. It would be expandable to 80,000 seats for Super Bowl games.
The stadium would cost about $800 million and be ready for the 2011 football season, Roski said in an interview with the Los Angeles Times yesterday. Roski wants the NFL to provide a $150 million loan and commit to holding at least one Super Bowl there, the newspaper reported on its Web site.
Roski was ranked No. 195 on last year's Forbes list of the 400 richest Americans, with an estimated net worth of $2.3 billion. His company is a closely held developer of industrial, retail and other commercial properties. It owns, manages and leases about 70 million square feet of space.
In addition to the Coliseum, the Rose Bowl in Pasadena as well as sites in the cities of Anaheim, Carson, Inglewood and Irwindale have been pitched to the league as stadium sites by other developers.
The City of Industry location is about 25 miles (40 kilometers) east of the Coliseum.
California lawmakers yesterday pulled a proposal backed by the City of Industry to divert $829 million in county property tax revenue from basic government services to subsidize development projects, the Los Angeles Times reported today. Opponents of the measure, including Los Angeles County Supervisor Gloria Molina, said the money shouldn't be used just to attract an NFL team, the newspaper reported.
