Both projects will add thousands of new jobs to the Ninth District and more than a half billion dollars in new investments to the region
Los Angeles – The Los Angeles Football Club Stadium Development Project moved a key step forward at this week’s Los Angeles Economic Development Committee as the team looks to kick off its inaugural season with Major League Soccer Season in 2018. This new development will reinvent the current site of the Los Angeles Sports Arena, adding a new 22,000 seat Soccer stadium and more than 100,000 square feet of restaurant and office space, a conference center and a Soccer Museum to the Exposition Center. The new stadium project is expected to add more than 1,200 new construction jobs and some 1,800 full-time jobs, as well as $2.5 million in annual tax revenue for the City. On Tuesday the Committee approved Councilman Price’s motion which will help expedite the soccer stadium project by requesting the cooperation of City departments involved.
“This project will not only bring LA’s thousands of Soccer Fans a new home team to cheer for, it would be a huge investment for the district I represent and the entire City, and we want to make sure we do everything we can to maximize its benefit to the community,” said Councilman Curren Price, who Chairs the Economic Development Committee and whose district includes the Sports Arena site.
The Economic Development Committee was also updated Tuesday on the status of the Los Angeles Convention Center’s $350 million renovation and expansion process which included discussion on the design competition that is currently being held for the project. The Convention Center’s upgrade is the first the space will receive in more than two decades and its completion is critical for Los Angeles to position itself as a citywide convention destination. The Committee approved two motions authored by Councilman Price, including one to study the feasibility of a 1,000 room hotel on the Convention Center site. Current reports show that the Convention Center needs some 8,000 rooms to accommodate 90 percent of the Convention market. The committee also approved a motion on ways to increase the City’s revenues from surrounding parking lots. Councilman Price had models of the current design plans on display in the rotunda of City Hall.
“As a world class city, Los Angeles deserves a world class Convention Center, and that is what I am committed to approving,” Councilman Price added.