This week’s neighborhood highlight is on the blooming city of Inglewood as it makes way for new development. City officials have created zoning plans for huge development to accompany the brand new multi-billion dollar NFL stadium, including constructing high-profile residential buildings, retail and office developments, and three new stations on the next major Metro line.
Here are some neighborhood highlights for the city of Inglewood.
THE NEW LOS ANGELES STADIUM AT HOLLYWOOD PARK
Currently under construction and planning to open in 2020, the Los Angeles Stadium is an open-air stadium and entertainment complex district serving as the home for the Nation Football Leagues Los Angeles Rams and Chargers. The project will bring in over 3,000 units of housing, 620,000 square feet of retail space, a luxury hotel, and a revamped Hollywood Park Casino.
The city is currently exploring two potential land use plans for development surrounding the Green Metro station and the Crenshaw/LAX station.
Under the first proposal plan- CRENSHAW/IMPERIAL TOD PLAN- development includes:
- Mid-rise buildings on the Crenshaw/Imperial intersection
- Multifamily residential units
- Office space
- Retail would rise in the five-to-ten story buildings
- Improved street ways and pedestrian pathways
Along Imperial Highway there will be smaller developments with more office space, apartments, retail and an open space plaza connected to the street through landscaping.
Under the second plan- THE WESTCHESTER/VETERAN TOD PLAN- development includes:
- Incorporating existing industrial facilities near the new Crenshaw/LAX rail line
- Live/work apartments
- Hostels
- Breweries
- Residential developments near the Arts Focal Area six stories in tall
- Airport campus zone near the station mixed with offices, retail and streetscape improvements featuring new parks
RENT UPDATE
The average price of an Inglewood apartment has jumped from $124 per square foot in 2012 to $217 per square foot today.
As of May 2018, the average apartment rent in Inglewood is:
- Studio (355 sq ft) – $921
- 1 Bedroom (474 sq ft) – $1,206
- 2 Bedrooms (643 sq ft) – $1,514
- 3 Bedrooms (724 sq ft) – $1,735
If you’re interested in selling and would like a current market valuation of your property, please contact Anie Mayelian at 818.915.9118 or email