- Vote from NFL owners comes this week.
- Non-stadium portion of the Inglewood project already underway.
- Investors appears confident in the Inglewood deal receiving approval.
A vote by NFL owners this week could significantly impact the cities of Inglewood and Carson, along with their real estate markets.
If owners approve the move of a football franchise or franchises to one or both locales, the resulting project would completely revitalize either city and drive up home values.
The St. Louis Rams, San Diego Chargers and Oakland Raiders all officially submitted applications for relocation to Los Angeles, according to the NFL. The Rams currently have a proposed deal in Inglewood, while the Chargers and Raiders have a joint project proposed in Carson.
In Inglewood, investors are already snatching up homes in anticipation of future price appreciation stemming from the new stadium and surrounding development, according to Suzzane Dyer, an agent with Berkshire Hathaway Home Services – Rolling Hills Estates.
She adds that Carson, which features a significant inventory of aged homes that have not been redeveloped, is in need of revitalization and that the only negative impact of a football stadium might be traffic.
According to Zillow, median home prices in Carson and Inglewood currently stand at $436,100 and $389,100, respectively.
The city of Carson, taking into consideration the economic impact of a new stadium, recently considered placing a moratorium on all development surrounding the 157-acre stadium site.
Recently construction of the development project that would surround the Inglewood stadium commenced. The project will feature significant retail, office, hotel and residential space with the goal of creating a new neighborhood in Inglewood, a market that was recently ranked as one of the worst cities for families in California by WalletHub.
