NFL Champions are planning their team offices, headquarters and practice facility In Echelon’s backyard.
It’s official—Los Angeles Rams owner Stan Kroenke has been named as the buyer of the defunct Westfield Promenade mall in Woodland Hills, Calif. The purchase comes as Westfield only recently completed their own plans for the property, including years of pre-development getting city officials to approve their said plan. It also happens to be in the backyard of the Echelon Business Development Network office.
The Westfield plan called for $1.5 billion investment into making it a 3.2 million mixed-use project. It would have included 1,400 apartments, a hotel, restaurants, retail space, an office building, and a 10-15k seat sports facility, which was rumored to double as a concert venue.
While Rams’ plans are still vague, it is believed they will build their team office and headquarters on the site, along with a practice facility. There is also speculation they team may build some mixed-use facilities in the way that we now see at SoFi Stadium, the home playing field of both the Rams and the Chargers.
What will this mean for local firms and businesses? Hard to say. Some see it as a much-needed kick for restaurants and hospitality in the area. One partner at a local law firm, who has offices overlooking the site, weighed in, “The real estate market will probably be affected, more than it is already. And commercial real estate may get a boost, especially for firms who have super fans as owners and partners. It would be pretty cool to look down onto the stadium from our office at lunch and just watch practice.”