The LA Angels' stadium deal is in jeopardy.
An agreement with the city of Anaheim included a $325 million mixed use development around Angel Stadium.
California has a thing about not financing anything to do with sports stadiums. The deal is based around LA Angels owner Arte Moreno buying the property around the stadium. That being the stadium’s 20 acre site and the additional ~130 acres, including the Grove theatre and 12,500 parking spaces.
It’s being held up by Governor Newsom’s demand for affordable housing development.
Real estate development in the state of California is difficult, to say the least. State rules dictate that before development can start, the land first has to be listed with the state to be listed so that bids can be taken from affordable housing developers.
It’s called the Surplus Land Act and it’s a big deal for the Newsom administration.
The deal is also being challenged by an organization called the People’s Homeless Task Force.
They filed a lawsuit stating that the deal did not meet state standards for state public transparency laws. The basis being that the LA Angels and the city of Anaheim adequately responded with all paperwork relevant to the deal and the land development.
The deal sounded so promising when it was reached. The development of shops and restaurants along with residential housing would provide a lifeline to the LA Angels ballclub.
The lack of affordable housing is a real issue in the city of Anaheim and surrounding areas. Hopefully, after this round of lawsuits is settled, a resolution benefitting all parties can be reached.
Personally, I hope the LA Angels will be able to field the best club possible and that the team will remain in Anaheim for the foreseeable future. LA Angels fans deserve the best fan experience possible.
Although lawsuits are part of the business, it’s unfortunate that real estate development in California has to be this complicated.