Gentrification slides into Inglewood, driving real estate sky high
Inglewood, nicknamed “Jewel of the South Bay,” may displace tens thousands to make way for gentrification
Sketch of the new stadium and performance venue currently under construction in Inglewood. UCLA Ziman Center for Real Estate
Gentrification has begun slowly, but pace will quicken as completion of Hollywood Park Tomorrow, and new NFL stadium nears
INGLEWOOD — This city, nicknamed “Jewel of the South Bay,” may displace tens thousands of its residents over the next half decade to make way for gentrification. The handwriting is on the wall and it isn’t graffiti!
The Forum, current mixed use development Hollywood Park Tomorrow, and the forthcoming $1.86 billion Rams NFL football stadium, all in motion for Inglewood are not for the festering criminal element currently entrenched here. Nor is it for the working class who will not be able to afford the pricey real estate — homes, condominiums, and townhouses soon to emerge here.To steal a line from the Hollywood film, “Field of Dreams” — “Build it and they will come” — “they,” meaning affluent people riding a wave of gentrification — that’s what’s going to happen in Inglewood, except, the deep pockets that initially fled amid “White Flight” in the 60s and 70s, cannot return until the current resident element is moved out of sight, out of mind.
Property owners are already displacing working class tenants who occupy their rental properties, refusing to extend leases or upping rent increases by the hundreds of dollars, forcing people out, the majority of whom are Black and Latino.
This isn’t speculation, either! Mayor James Butts knows it, the City Council knows it, the City Planning Commission knows it, billionaire Rams owner Stanley Kroenke knows it, the Madison Square Garden Company knows it, and the Hollywood Park Land Company knows it.
The only people who don’t know, are the ones who are going to be blindsided —- displaced with nowhere to go.
Following a $50 million renovation of The Forum by the Madison Square Garden Company, which restored the luster, opulence, and profitability of the venue to its former star quality when it was the Great Western Forum and home of the Los Angeles Lakers.
The present Hollywood Park Tomorrow Mixed Use redevelopment of the approximately 238-acre project site, and includes demolition of the existing Hollywood Park racetrack/grandstand, the rehabilitation of the 120,000 square-foot Pavilion/Casino gaming facility, and construction of a new mixed-use development that contains approximately 2,995 dwelling units, 620,000 square feet of retail space, 75,000 square feet of office/commercial space, a 300-room hotel, 10,000 square feet of community serving uses, and a 25-acre park system with passive and active recreational opportunities.
Hollywood Park Tomorrow will showcase a hotel, $750,000 homes, even a lake with waterfalls.
Chris Meany, development manager for the Hollywood Park Land Co., told a local daily newspaper in January,”We are not aspiring to create Rodeo Drive. We’re responding to create a place that is young and contemporary. The retailers are the kind you’d see at The Grove.”
And that is driving the price of real estate through the stratosphere in Inglewood, which will amply restore the City to its long held nickname, “Jewel of the South Bay.”
As you can see, “Future Inglewood” proper is going to be a place for people of means and the affluent.