The future home of the Los Angeles Rams and Chargers football teams finally has an official name, and a target completion date.
The 70,000-seat stadium will be called SoFi Stadium, following a reported naming rights deal that will cost the San Francisco-based online lender $20 million a year. Construction on the stadium is 75 percent complete, and on track to open next summer, according to the Los Angeles Business Journal.
SoFi Stadium is the centerpiece of the $5 billion Los Angeles Stadium & Entertainment District at Hollywood Park development, a project spearheaded by L.A. Rams owner Kroenke Sports & Entertainment.
The megacomplex spans 300 acres and when complete will include 900,000 square feet of retail space, 800,000 square feet of office space (including a healthy chunk rented to NFL Media), a separate 6,000-seat performance venue, some 2,500 residential units, and a 300-key hotel.
Plazas and green spaces will connect the complex. American Airlines signed a naming rights deal for one of those plazas in August.
Builders AECOM and Turner Construction Co. are the general contractors on the development.
The project is expected to transform the city of Inglewood economically, but so far that transformation is hurting some of Inglewood’s longtime residents, particularly lower-income residents.
Some landlords have more than doubled rents in their buildings, forcing the city to step in and negotiate for better terms. In June the city temporarily capped rent hikes, joining several other L.A.-area cities. [LABJ] — Dennis Lynch
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