What will this mean for Inglewood homeowners/property values? (San Diego: 2013, homes)

[JDubbs339]

By know I'm sure most of you have heard that the Rams (possibly the Chargers at a later date) are officially moving to the proposed Inglewood stadium.

My husband and I own a home in Inglewood and are interested to see how this will affect our property value and the surrounding area. I am obviously hoping for a positive outcome, but do you think this could have a negative impact on the surrounding areas/homes?

Also, what do you think are the first changes likely to occur in the area?

[owl6969]

Originally Posted by JDubbs339

By know I'm sure most of you have heard that the Rams (possibly the Chargers at a later date)are officially moving to the proposed Inglewood stadium.

Don't forget Raiders possibly.

[BennyPhoenix]

I'm not aware of a stadium anywhere in this country raising residential property values. Nobody prefers to live near a stadium.
If the value of residential property was high before the stadium then at best the stadium will not lower the values, but it's Inglewood and near the flight path of LAX.
However, commercial property may rise in value. Or it may not.

[ryanms3030]

Originally Posted by BennyPhoenix

I'm not aware of a stadium anywhere in this country raising residential property values. Nobody prefers to live near a stadium.
If the value of residential property was high before the stadium then at best the stadium will not lower the values, but it's Inglewood and near the flight path of LAX.
However, commercial property may rise in value. Or it may not.

Pretty much this. But a lot of major stadiums are not in residential areas. And of course if the Raiders move there the property values will plummet!

The Lakers played in Inglewood for years and Hollywood Park was there so how did that effect property value?

[JDubbs339]

Originally Posted by ryanms3030

Pretty much this. But a lot of major stadiums are not in residential areas. And of course if the Raiders move there the property values will plummet!

The Lakers played in Inglewood for years and Hollywood Park was there so how did that effect property value?

Not going to lie...I was pretty nervous about the idea of the Raiders coming to town.
We're relatively new to Inglewood. We bought our home at the end of 2013, so I'm not sure the effect the Lakers had on the area.

[JDubbs339]

Originally Posted by BennyPhoenix

I'm not aware of a stadium anywhere in this country raising residential property values. Nobody prefers to live near a stadium.
If the value of residential property was high before the stadium then at best the stadium will not lower the values, but it's Inglewood and near the flight path of LAX.
However, commercial property may rise in value. Or it may not.

So far, we've enjoyed living in Inglewood, and after taking a look at HKS' plan for the stadium, it seems like the development will include many more features designed to function independent of the stadium itself (shopping centers, parks, etc.).

Call me crazy, but the flight path thing hasn't been an issue. In a city as big and congested as LA, I've found the close proximity to the airport a huge plus actually. The idea of driving 45 mins - 1 hour in traffic to get home after a long flight just sounds awful.

[BRinSM]

traffic on sundays will of course be an issue.
if/when the rams ever win a superbowl, be prepared for potential rioting.
one would think that nearby areas would also clean up a bit, hopefully causing a domino effect around the city.
i'm not sure property values for your home will be directly affected unless the above point plays out.

[PDF]

Originally Posted by BRinSM

traffic on sundays will of course be an issue.
if/when the rams ever win a superbowl, be prepared for potential rioting.
one would think that nearby areas would also clean up a bit, hopefully causing a domino effect around the city.
i'm not sure property values for your home will be directly affected unless the above point plays out.

And of course LA will definitely host multiple Super Bowls. That's another thing to factor in.

[Texamichiforniasota]

Originally Posted by JDubbs339

So far, we've enjoyed living in Inglewood, and after taking a look at HKS' plan for the stadium, it seems like the development will include many more features designed to function independent of the stadium itself (shopping centers, parks, etc.).

Call me crazy, but the flight path thing hasn't been an issue. In a city as big and congested as LA, I've found the close proximity to the airport a huge plus actually. The idea of driving 45 mins - 1 hour in traffic to get home after a long flight just sounds awful.

The stadium itself will have no positive effect. Depending on whether the developers actually build the proposed parks, shopping centers, etc, those might be some features that boost property values.

Baseball stadiums (81 home games/year) and some combo basketball/hockey (41 games for each sport) arenas can add some value to an area, as they are used frequently and can add restaurants and bars to a neighborhoods to service the fans going to the game. There aren't too many business plans that will survive targeting only fans going to 8 home games and 2 preaseason "games" a year for an NFL stadium (16/4 if two teams). Most NFL stadiums sit in the middle of a sea of parking, with people driving into the game and then leaving and going home afterward. The only NFL stadiums I've been to with a little bit of street life/businesses is the Superdome in New Orleans. The other NFL stadiums I've been to (Houston, Minneapolis, New England, Miami, San Diego, and old Texas Stadium in Irving) have had no positive impact on the surrounding neighborhoods.

[JDubbs339]

Boy...now I'm depressed.