Inglewood extended its winning streak when it scored approval for a hotel development by Hilton near the future football stadium.
The city approved a six-story, 120-room Hilton Tru Hotel this week, the Los Angeles Business Journal reported. The hotel will be at the corner of 111th Street and South Prairie Avenue, near the NFL stadium now under construction for the L.A. Rams and Chargers, and the 300-acre entertainment district.
With outdoor space and amenities, the project will include 105,400 square feet of space, including a food market, fitness room and rooftop deck. It is expected to be completed in 2020 – around the time when Rams owner Stan Kroenke and Stockbridge Capital Group will have the stadium ready to host more than 70,000 fans each week.
The hotel is another example of how Inglewood is taking advantage of the development of the stadium, whose projected cost has ballooned to more than $4 billion. According to The Real Deal’s analysis, property values spiked in the area, with total assessed property values in Inglewood jumping 10 percent from 2016 to 2017.
Other examples include NFL Media’s plans to build a 200,000-square-foot facility there for NFL Network, NFL.com, and other digital operations.
According to Atlas Hospitality Group, Inglewood has more hotel projects in its pipeline, including the 300-room Hollywood Park Hotel proposal. [LABJ] – Gregory Cornfield