Retail Part of Mixed-Use Project Planned at Hollywood Park
The city of Inglewood, Calif., was once one of Los Angeles County’s jewels of suburbia but became a victim of inner-city growth. Now, city officials hope to restore some of its luster, having approved a $2 billion mixed-use project that would bring upscale retailers as well as a housing element to the site of the historic Hollywood Park racetrack.
The city on July 9 approved nine actions that cleared the way for developer Wilson Meany Sullivan LLC to proceed with its plan to build Hollywood Park Tomorrow, a retail/residential village featuring 620,000 square feet of retail space at Century Boulevard and Prairie Avenue, in addition to 3,000 multi-family units.
Former apparel-industry executive Leo Chu confirmed that his company’s Hollywood Park Casino, which sits on the 238-acre parcel, will be renovated and integrated into the project. Chu and his wife, Ivy, formerly ran sportswear brand Ivy of California before he went into the gaming industry and founded California Casino Management Inc., based in Compton, Calif.
Shannon Howe, director of the Inglewood Chamber of Commerce, said retail in Inglewood “is badly underserved. This will be good for economic development. Of course, at the same time, we are sad to see the track go.”
Plans are to bring in four anchors for the center. The developer said it will aim to attract upscale stores for the anchor and regular store slots.
Construction will not begin until late 2010 and will take 12 to 18 months to complete. The development is projected to generate more than $100 million in taxes for the city redevelopment agency and more than $40 million annually in taxes for affordable housing and general operations, said the developer. About 19,000 jobs will also be created.
“This marks the end of a tremendous public review process that has brought our plans in line with the community’s priorities. We believe that Hollywood Park Tomorrow will be an enormous asset for Inglewood,” said Chris Meany, principal of Wilson Meany Sullivan, in a statement.
The project has been opposed by supporters of the 70-year-old racetrack, which will remain open until construction. Hollywood Park has been home to Triple Crown winners and has a deep heritage in horse-racing history. Jack Warner of Warner Bros. Studios was its first chairman. The group SaveHollywoodPark.com is lobbying track enthusiasts and Inglewood residents to thwart the development by contacting the Inglewood City Council and state legislators. —Robert McAllister
