Los Angeles Angels owner Arte Moreno is expected to lay out a vision for the future ballpark needs of his team, as SRB Management is tasked with submitting a development proposal for the Angel Stadium site before the end of the month.
In December, the Anaheim City Council approved the broad outlines of a deal to sell 153 acres–including Angel Stadium and its surrounding parking lots, as well as the City National Grove of Anaheim theater–to SRB Management Co. LLC, where Moreno is the controlling partner.
Submitting a development plan to the city is merely the first step in a longer process that will also placed a fixed price for the ballpark site. Moreno and his investors expected to pursue a mixed-use development concept that emulates models such as The Battery Atlanta. Additionally, the Angels would agree to remain in Anaheim through 2050 (with five five-year options), playing at either a new or renovated ballpark that would anchor the development. There are variables on what SRB Management could pay for the site; including more parkland, for instance, could decrease the price. From the Los Angeles Times:
The site is half again as big as Disneyland. According to a study Moreno commissioned before the sale to evaluate potential development opportunities, more than 4,000 apartments and 700 condominiums could be built on the site, plus a hotel with more than 900 hotel rooms and offices that would employ 15,000 workers.
The study also envisioned full-service and fast-casual restaurants, a beer garden and wine bar, a grocery and drug store, merchandise retailers, fitness and recreational centers and social spaces. The total project was estimated to cost $3.4 billion, with development in stages through 2050 and eventually covering 1.1 million square feet.
RELATED STORIES: Moreno: No Decision Yet on Replacing or Renovating Angel Stadium; Group Threatening Lawsuit Over Angel Stadium Sale; Anaheim Approves Angel Stadium Sale; Angels Look to Tap Into Ballpark Development Plan; Details Emerge on Proposed Angel Stadium Land Sale; Proposal Calls for Angels to Remain in Anaheim Through 2050; Anaheim Mayor: Discussions with Angels Positive; Angels, Anaheim Continuing Ballpark Discussions; Los Angeles Angels to Unveil Ballpark Plan Next Week; Angels Focused on Anaheim in Ballpark Discussions; Angels, Anaheim Poised to Accelerate Ballpark Discussions; Anaheim Councilman Seeks Review on Potential Angels Agreement; Angels Will Not Restore Anaheim to Team Name; Anaheim Seeks Angels Lease Proposal by October; Los Angeles Angels Bolster Development Team; Anaheim Unfazed by Possible Long Beach Overtures for Angels; Angels Long Beach Ballpark Project Could Top $1 Billion; Long Beach Pitches New Angels Ballpark; Firm to Appraise Angel Stadium Site; Thinking Big in Anaheim; Angel Stadium Lease Extension Approved; Angels Look to Extend Angel Stadium Lease Extend Through 2020; Anaheim to Get Appraisal on Angel Stadium Site; Angels Opt Out of Angel Stadium Lease; Moreno: We’re Committed to Angel Stadium