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Will the “Staples Center effect” take place in Inglewood?

  • ​​Since it’s opening in 1998, the Staples Center has served as an important catalyst in the development of downtown, ushering in a new era of vibrancy and entertainment in this once drab and neglected part of town. With a full schedule of sporting events, shows, and concerts, Staples can draw a crowd every night of the week and the effects are certainly evident.

  • The population living within a mile of Staples has grown by nearly a third since 2000. That number is expected to rise another 17 percent over the next five years. Much of this has been enabled by downtown’s housing boom. The number of units within a mile of Staples has risen by over 50 percent and South Park alone has grown its own housing market by a staggering 1,000 percent. Rents have doubled in this neighborhood over the same period of time.

  • Should we expect the “Staples Center effect” to follow the new Inglewood stadium set to open in 2020? If it does, LA might end up with not just another home stadium, but a new economic growth engine as we can assume a significant transformation within the Inglewood market in the years to come.

Source: JLL Research

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