Hollywood future?

[Al Gobbi]

Forum owners plan to revive venue with $50-million renovation
(snipped)
News of the Forum's return has boosted long-shelved plans by another developer for a $2-billion real estate project that would replace the nearby Hollywood Park racetrack with a large planned community, Butts said.

Work on that project, called Hollywood Park Tomorrow, will begin early next year, he said. The community is to include 3,000 residential units, stores, theaters, restaurants, a hotel and a casino.

http://www.latimes.com/business/la-fi-forum-20120626,0,6977652.story


Merit Property Management, a FirstService Residential Management company, has been chosen to provide property management services for the projected 3,000 units to be built at Hollywood Park, the new master-planned mixed-use development in the Inglewood area of Los Angeles.

Conveniently located three miles east of the Los Angeles International Airport, Hollywood Park, currently a thoroughbred racetrack and a former standardbred track, is the largest undeveloped parcel of land in the Greater Los Angeles area. The project is currently in the planning stages and is tentatively scheduled to begin site development in late 2012 or early 2013. Upon completion of land use entitlements, the existing racetrack will cease operations to make way for the new community.

http://www.prweb.com/releases/2012/6/prweb9616121.htm

We should find out more come Thursday's CHRB meeting.

[bob60566]

Excellent idea, great place to raise your kids if they do not go out at night.

[1GCFAN]

Hollywood Park, formerly a thoroughbred racetrack, :bang:

[BlueShoe]

We have been hearing about the imminent demise of Hollywood Park for how many years now? Just the time and place for a project of this magnitude; during a recession and in a depressed area that is a mix of ghetto Detroit and the slums of Mexico City. :rolleyes: And what about that new awful word that has been shoved down our throats at every opportunity, Betfair? What do they have to say about all this?

[racingfan378]

Betfair is probably behind this now since they didnt get exchange wagering:liar:

[GaryG]

There used to be a hotel on one corner of the parking lot, but it did not last too long. And that was in the 70s and 80s when the area was still decent and the economy was booming. It is hard to imagine that a company would pour that kind of money into something that will just be part of the ghetto in a few years.

[Wickel]

There used to be a hotel on one corner of the parking lot, but it did not last too long. And that was in the 70s and 80s when the area was still decent and the economy was booming. It is hard to imagine that a company would pour that kind of money into something that will just be part of the ghetto in a few years.

You talking about the Airport Park Hotel? It's gone? Wow! Used to stay there in the '80s.

[usedtolovetvg]

I don't think it will work but before they developed the area around the Staples Center, it wasn't the kind of place I would have let my teenage daughter go to. It's a very trendy town. There is no predicting what will succeed in LaLa Land.

[castaway01]

Betfair is probably behind this now since they didnt get exchange wagering:liar:

Do your research. It was sold for development years ago and only the collapsing real estate market stopped that from happening. Betfair does not own the track, they only purchased naming rights. It's the same way that Citibank can't demand destruction of Citi Field in New York---they only paid for naming rights.

[gm10]

Maybe the horsemen of California will be more enlightened next time they have to choose whether to allow exchange betting or not. (Presuming there is a next time of course :ThmbDown: ).

[northerndancer]

I sure hope the stip joints remain part of the local environment.... nothing like a before the races on a Friday night or a night cap after an afternoon of racing.

[racingfan378]

Do your research. It was sold for development years ago and only the collapsing real estate market stopped that from happening. Betfair does not own the track, they only purchased naming rights. It's the same way that Citibank can't demand destruction of Citi Field in New York---they only paid for naming rights.


Thanks for the info Matlock, I already knew that. Betfair would get out of the HP deal in a heartbeat b/c of the fact that exchange wagering didnt pass. Only one year with naming rights and they would get 4 years of a pro rated refund if HP did shut their doors.

I wonder what Vic has to say about all this. If HP shuts their doors, where would he call???

[Canarsie]

Thanks for the info Matlock, I already knew that. Betfair would get out of the HP deal in a heartbeat b/c of the fact that exchange wagering didnt pass. Only one year with naming rights and they would get 4 years of a pro rated refund if HP did shut their doors.

I wonder what Vic has to say about all this. If HP shuts their doors, where would he call???


Betfair didn't invest a large sum of money in this deal. If you would be gracious enough please post the link or links that they will get a refund if HP closes. Even if there were large sums of money involved those are usaully paid on a yearly basis.

To be clear, there was no big check changing hands, which is usually the case with naming-rights deals.

http://articles.latimes.com/2012/apr/23/sports/la-sp-dwyre-20120424

[Canarsie]

I don't think it will work but before they developed the area around the Staples Center, it wasn't the kind of place I would have let my teenage daughter go to. It's a very trendy town. There is no predicting what will succeed in LaLa Land.

When a few young professionals start moving in the chances of that area being revitalized goes up substantially. One only has to look at Brooklyn which has become a very trendy place to live.

If anyone saw parts of Park Slope forty years ago they would be shocked. I'm not saying the same thing will happened near the Forum but I wouldn't bet against it either.

[Dan Montilion]

HP has said all along they will develop the grounds. CHRB in its wisdom continues to give them racing days. Give the days to the players that want to play.

[v j stauffer]

Thanks for the info Matlock, I already knew that. Betfair would get out of the HP deal in a heartbeat b/c of the fact that exchange wagering didnt pass. Only one year with naming rights and they would get 4 years of a pro rated refund if HP did shut their doors.

I wonder what Vic has to say about all this. If HP shuts their doors, where would he call???

Suicide hotline.

[davew]

I sure hope the stip joints remain part of the local environment.... nothing like a before the races on a Friday night or a night cap after an afternoon of racing.

I always thought your handle was from a horse, is it from an occupation?

[v j stauffer]

I love clubbing after the races on Fridays.

Me and the Mrs. usually end up on Sunset Stip.

[castaway01]

Betfair is probably behind this now since they didnt get exchange wagering:liar:

Yeah, you really seem to understand what's happening. Great to have another genius on the board.

[northerndancer]

I always thought your handle was from a horse, is it from an occupation?

Handle is definitely based on inspiration from one of the greatest horses to ever compete.

Though living so close to Fort Erie a man has to do what a man has to do..... that is support the Canadian Ballet!!!!!

[usedtolovetvg]

I love clubbing after the races on Fridays.

If they build Hollywood Park Tomorrow, I think the term clubbing on a Friday Night will take on a whole new meaning.

[BlueShoe]

I love clubbing after the races on Fridays.

Me and the Mrs. usually end up on Sunset Stip.
Have never seen Vic in person, but from his appearances on TVG he looks like a very large powerful man. If that is so, and Hollypark does go away, perhaps he could find work as a bouncer in one of the local clubs. :cool: While tossing out unruly drunks is not quite as glamorous as race calling at least it would be a job.:D Seriously though, as one of the nation's premier race callers Vic surely would soon land a new good spot, although it would mean departing SoCal. In the meantime, still think that HollyPark is going to be around for quite a while, and remain skeptical about the developement plans. We have heard them for years, and the old joint still stands.

[GaryG]

When the demise of Hollypark first came up a couple of years ago there was talk of a Los Al renovation and expansion. As I remember Mike Pegram was one of those who was interested.