Frank McCourt, the former owner of the Los Angeles Dodgers and current real estate developer, is looking to make the most of his investment in stadium parking lots by building apartments close to them. The move is seen as a way to make the most of the valuable real estate that is often left unused on game days.
According to Urbanize Los Angeles, McCourt Partners is seeking to build a seven-story apartment building in Chinatown, just south of the stadium.
“This week, an entity affiliated with McCourt Partners submitted an application to the L.A. Department of City Planning seeking entitlements for a new apartment complex at 766-788 W. College Street. The hillside property, which would also flank Figueroa Terrace and the 110 freeway, calls for the construction of a seven-story building which would feature 170 studio, one-, and two-bedroom apartments above parking for 85 vehicles on two below-grade levels.”
McCourt bought the Dodgers in 2004 and later sold the team in 2012, but has continued to invest in Los Angeles real estate. Another project he has been backing is the Aerial Rapid Transit and its gondola that would provide transportation between Chinatown and Dodger Stadium on game days.
In recent years, McCourt has focused on developing stadium parking lots, which are typically empty on non-game days. These apartments will be an exciting way for fans to experience live sporting events and is sure to create a sense of community among residents.
The new apartments, which are expected to be completed in the next few years, will offer a range of options including studio, one-bedroom, and two-bedroom units.
With its prime location and convenient access, the new apartments are sure to be a hit for anyone looking to be a part of the action. If you're looking for a new place to call home and want to be in the proximity of live sporting events, be sure to keep an eye on Frank McCourt's upcoming development project.
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