"Brazil's take was that an entertainment district is not likely considering the dual ownership (Guggenheim Baseball Management and former team owner Frank McCourt) of the parking lots surrounding the facility and the lack of transit options for moving people in and out of the stadium, which is on a graded hilltop in Elysian Park, and has its hands full with traffic on game days."
"We reported earlier this year local agents have said the ultra-luxury segment can command as much as $3,000 to $5,000 per square foot locally. That's really not a figure that pencils out in the central or eastern part of Los Angeles. Look no further than Downtown L.A., which is less than two miles south of Dodger Stadium. The Ritz Carlton Residences luxury condos, which opened in 2010, were the final puzzle piece of the L.A. Live mixed-use project anchored by Crypto.com Arena."
A mixed-use entertainment complex around Dodger Stadium faces obstacles including dual ownership of surrounding parking (Guggenheim Baseball Management and Frank McCourt), limited transit options, and a hilltop site with heavy game-day traffic. High-rise condo living as part of a stadium-anchored project might be possible, but central and eastern Los Angeles generally cannot support Westside-level ultra-luxury pricing. Cain International's One Beverly Hills and the incoming Aman Residences are driving ultra-luxe market attention. Local agents report ultra-luxury pricing of $3,000–$5,000 per square foot, while Downtown L.A.'s Ritz Carlton Residences average $924 per square foot with a median ask of $1.8 million.
Read at therealdeal.com
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