These Developments Are Shaping The South Bay In Los Angeles
The South Bay area of Los Angeles is booming.
Made up of 17 cities and some unincorporated areas of Los Angeles County, the South Bay has been seeing an influx of commercial investments in recent years.
From a newly planned creative industrial hangout called Smoky Hollow in El Segundo, a new football stadium in Inglewood, a waterfront development in San Pedro to the renovation of a shopping mall in Manhattan Beach, the South Bay is experiencing a commercial real estate renaissance. The vibrant area will be discussed at Bisnow's Neighborhood Series: LA's South Bay on Sept. 27.
Here are a few developments that will shape South Bay in the years and decades to come.
Los Angeles Stadium and Entertainment District
Los Angeles Rams owner Stan Kroenke is spending a reported $5B to not just build a stadium where the Los Angeles Rams and Chargers will play football, but an entire mixed-use live, work and play entertainment complex.
Only a small part of the of the Los Angeles Stadium and Entertainment District at Hollywood Park's 298 acres is reserved for the 70,000-seat football stadium.
When the Los Angeles Stadium and Entertainment District opens sometime in 2020, it will feature a performing arts venue, office buildings, retail and restaurants, a hotel, modern residences and 25 acres of public park space.
The indoor and outdoor shopping center recently completed a $12M remodel with new flooring, interior, seating areas and restrooms. The renovation is expected to be completed by 2020.
The city earlier this year rezoned the 120-acre area next to the Chevron refinery to attract priced-out tech firms and other companies to set up shop.
City officials said the new plan for the area could bring in 2.97M SF of office, industrial and public facility space through 2040.
San Pedro Public Market
The San Pedro Public Market is a 16-acre waterfront destination that could transform the area known for its fishing industry.
The $150M redevelopment project at the Ports O'Call village by the Ratkovich Co. and Jerico will feature a food hall, at least five restaurants, retail and a waterfront promenade where guests would be able to walk and enjoy the weather and ocean views.
The Los Angeles Premium Outlets
Announced earlier this month, mall giants Macerich and Simon Property Group are forming a joint venture to develop the Los Angeles Premium Outlets, a 566K SF shopping center in Carson.
The mall will be across from the Porsche Experience Center and abut the Interstate 405 freeway. Macerich and Simon officials are working with the city on the site, a former landfill, but if everything pans out, the outlets should open by 2021.
Hear more discussion on the latest developments in the South Bay at Bisnow's Neighborhood Series: LA's South Bay event Sept. 27 at PCT in El Segundo.