If Long Beach builds it, will they come? City considers Angels stadium megaproject

A preliminary cost estimate for the baseball stadium shows it would be among the priciest built

Los Angeles /
May.May 15, 2019 01:00 PM
Angels star Mike Trout and the Long Beach shorefront (Credit: Getty Images)
Angels star Mike Trout and the Long Beach shorefront (Credit: Getty Images)

A new waterfront stadium for the Los Angeles Angels in Long Beach would cost more than $1.1 billion to build, which would rank it among the most expensive baseball fields ever built.

The city released to the Los Angeles Times Times thousands of pages of documents pertaining to a proposed new stadium this week, in response to requests for records.

Long Beach wants to lure the team from its longtime home in Anaheim, and is studying the construction of a new baseball stadium. City officials have discussed demolishing the existing Long Beach Arena to make way for the proposed stadium.

Under the current estimate, around $900 million would go toward building the actual park, another $200 million toward financing costs, and $105 million toward parking. Parking could cost more, as the city estimated that figure with the assumption that a lot of visitors would park in existing structures nearby.

Meanwhile, a proposed $5 billion sports complex under construction in Inglewood has been met with opposition from some longtime residents, who fear the fast-changing area will soon price them out.

Last year, the Angels and Anaheim had agreed to extend the team’s lease for Angels Stadium through 2020. But Long Beach city officials had reached out to the team as early as 2014, when the Angels were considering a possible move to Tustin, about 25 miles east. Anaheim officials are appraising the 53-year-old baseball stadium and weighing options about the construction of a new one, the Times reported.

The Angels have not committed to move to Long Beach and the city has not yet released a plan to fund a new stadium. If an agreement was reached, the estimated a new stadium could open in 2025, according to the Times. [LAT]Dennis Lynch 


Related Articles

arrow_forward_ios
Blackstone's Stephen Schwarzman with 6700 8th Street, 22642 Lambert Street and 23512 Commerce Center (Getty, PS Business Parks, LoopNet)
OC portfolio with 1.1M sf part of Blackstone acquisition
OC portfolio with 1.1M sf part of Blackstone acquisition
Brookfield’s Brian Kingston with 425 East Colorado Street (Brookfield's Real Estate Group, LoopNet)
Brookfield sells Glendale office building to owner-occupier
Brookfield sells Glendale office building to owner-occupier
Joel Schreiber and 801 South Broadway (Google Maps)
Former WeWork investor enters Chapter 11 for DTLA “metaverse hub”
Former WeWork investor enters Chapter 11 for DTLA “metaverse hub”
Bridge Investment Group Holdings' Jonathan Slager and 2235 West Broadway in Anaheim (Bridge Investment Group Holdings, Madison Park)
Anaheim multifamily sets 10-year record with $284M sale
Anaheim multifamily sets 10-year record with $284M sale
Redcar Properties' Jim Jacobsen and 843 North Spring Street (LinkedIn, Lever Architecture)
Offices built with cross-laminated timber coming to Chinatown
Offices built with cross-laminated timber coming to Chinatown
Initiative to decide whether LA hotels should house the homeless
Voters to decide whether LA hotels should house the homeless
Voters to decide whether LA hotels should house the homeless
Long Beach (Illustration by The Real Deal with Getty)
Downtown Long Beach office vacancy highest in 20 years
Downtown Long Beach office vacancy highest in 20 years
Jamison Properties' Jaime Lee with the Pierce National Life Building (LinkedIn, Google maps)
Koreatown office building poised for residential conversion
Koreatown office building poised for residential conversion
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...