INGLEWOOD, CA—Hollywood Land Park Co., a joint venture between Stockbridge Capital and the Kroenke Group, has unveiled plans for its extended City of Champions Revitalization Project at Hollywood Park in Inglewood. The 298-acre development project will serve as a sports and entertainment district. The capital investment in the project is undisclosed.

Stockbridge Capital and the Kroenke Group joined forces last year to create an extended development for the park. Stockbridge Capital purchased the 238-acre land parcel, which was formerly a racetrack, in 2005 for the development, and has already begun construction on the project. The Kroenke Group then purchased an adjacent 60-acre parcel of land. The partnership joins the two land parcels together into an extended development. An unnamed source from the Hollywood Land Park Co. tells GlobeSt.com that because the two investors had neighboring plots, they were “a nice fit” and there was “good synergy.”

Hollywood Park Land Co.'s vision for the project is to continue to revitalize the city, which is why the development has been aptly named City of Champions Revitalization Project. Although it will not disclose the capital investment in the project, the partnership has confirmed that no taxpayer dollars will be used to fund the development. The project is generating significant employment, including 30% participation from minority or disadvantaged business enterprises in the construction of the project and will hire qualified Inglewood residents for at least 35% of long-term, post-construction jobs at the property.

The development will feature an 80,000-seat stadium and a 60,000-seat performance venue. The former plans have been reconfigured to include 890,000 square feet of retail, 780,000 square feet of office space, 2,500 new residential units, a 300-room hotel, and 25 acres of public parks, playgrounds, open space and pedestrian and bicycle access. Development of the mixed-use project began in 2013, after the fall racing season.