The site of the Los Angeles Rams’ new stadium is roughly 300 acres in size
The development is expected to be completed over the course of a few years (as opposed to the multiple decades it took to develop the comparably-sized Playa Vista)
The power of Southern California:
Global destination
Diverse
Trendsetting
Vibrant and dynamic
The Rams are spreading their footprint throughout Southern California, with some form of presence in the following areas:
Agoura Hills
Thousand Oaks
Los Angeles
Playa Vista
Irvine
Inglewood
The reach of Southern California is vast
The Rams can lean on the area’s “advocates” to help spread their brand by bringing awareness and enhancing the perspective of Rams
Brand-centered purpose:
Attempt to move away from being just a “sports” organization – look at methodologies to inspire the world football by enhancing traditional success and highlighting what the team stands for
Look to disrupt the industry
Be a brand-driven company at the center
Defining Brand by:
Rebuild the brand from the ground up
Engage and bring in the youth as well as earn the hearts of those who already live here
Brand values and beliefs:Play a role in Los Angeles’ distinctive neighborhood
“Live Angeleno”
Play a role in Los Angeles’ distinctive neighborhood
Be an aspirational and approachable brand
Pioneer with purpose
Remember your herd
Thrive humbly
Inspire Angelenos to “shine bright”, dream and inspire them to climb to new heights
Think of Angelenos as a psychographic as opposed to a demographic
Purpose-driven actions
Organic “Day of the Dead” marketing campaign, captured and shared with the community on social media
Play60 program
East Los Angeles Classic
How to be distinctively relevant?
Organic buzz
YG (an artist that is a fan of the Rams) concert at halftime
Targeted content
Emoji Day for the youth
Experiential retail
Pop-up shop at Century City Mall
Total Experience – drive energy
Meaningful Integration
Painting the “Randy’s Donuts” sign before Super Bowl LIII
LA Together, creating a sense of family and being there for one another (i.e. Monday Football)
Strength for LA, despite the various incidents of shootings, hurricane, and fires, the game is an outlet for the community to come together
Through their new stadium, Hollywood Park, the Rams intend to “build a global destination in the entertainment capital of the world.”
Have the stadium serve as a year-round sports and entertainment events center
Host future Super Bowls, Olympics ceremonies, etc.
Development of the stadium is reportedly creating approximately 3,500 new jobs
30 percent are local hires
21 percent are minorities
The stadium will have a significant economic impact on the area
Approximately 40 percent of Inglewood’s revenue will come from the project
The stadium will feature approximately 890,000 square feet of retail space
This can be expandable to up to 9.0 million square feet eventually
Start with pop ups and explore
The stadium will also feature approximately 1,500 residential units, 300 hotel rooms (expandable to 1,000 rooms), and a 20-acre park
The stadium will deliver in 2020 and is the centerpiece and the first component to be delivered
Disruption and Optimization in the Southern California Housing Market: Insights from Multifamily, Single-Family, and Community Builders
Airbnb is currently having an impact not only on the hospitality industry, but the multifamily industry as well
Airbnb rents out approximately 0.5 million units per night
Airbnb makes up approximately 20 percent of short term rentals, second only to Marriott on nightly stays
Overall, Airbnb is having a negative impact on the hotel industry but a positive impact on the apartment industry
There has been a shift:
Initially, Airbnb focused on renting out rooms in single-family homes and vacation homes
Now, customers seem to want furnished apartments and no sharing of common space, instead
Issue: the hotel industry is lobbying for cities to limit or ban Airbnb
Panelists say that multifamily properties should embrace Airbnb, blurring the line between lodging and apartments
How do they partner?
Multifamily Tours
Is it possible to offer 24-hour availability for tours in multifamily complexes?
Can utilize key codes and hand print scanners for registered customers
Virtual tours
Can record footage of tours
This can give feedback on which rooms people spend more time in, etc.
Price houses based on sale velocity
This approach is the same for multifamily – the recorded data is used to create algorithm to generate pricing
Harder for single-family because of the variables, but if this could be done then more revenue can be generated and less can go toward transaction cost (6% broker cost and 3% inside sales team)
Module Housing can be a resolution for affordable housing – cheaper and more efficient
Innovations and Technology Integration into Commercial Real Estate
Smart tech allows us to make space more responsive to the user and create individual workplace experiences that catered to each person’s need
Assess how space is being utilized in the workplace; what amenities are being used; how you can improve the workplace through data gathering and algorithm
Going beyond 3D modeling – (AR = augmented reality)
Virtual reality (VR) can help clients expedite the approval process of construction plans as not everyone is trained to read engineer’s drawing and visualization is difficult with 2D
It helps the client visualize plans that they have not fully understood otherwise
It also helps build excitement with the client (i.e. QR codes placed throughout the campus to build positive buzz and boast morale at campus).
Modular homes (can be built on an assembly line with ideal environment and conditions)
Can be constructed and ready to go in 10 hours after the module reaches the site (8 hours to unpack furniture and two hours for maids to into each room for setup)
The modular concept is being used for hotels as well (multiple project types)
Modular homes are being built primarily overseas due to lower pricing
The tallest modular building is a 32-story Marriott hotel in New York that was built in Poland
Modular homes do not have to all look the same
Lean manufacturing is lending itself to “lean construction”
Advocates price/cost/efficiency and increase the percentage of promises to 80 to 90 percent
Projects in the US:
70 percent of projects finish late
73 percent finish over budget
57 percent of construction labor is “waste”
“Sloppy” in how we develop, design, and build projects
54 percent promise met
Work spaces need to be more flexible and agile and multifunctional
Dynamic seating and personalization with individual work environment that decreases stress
Foresee future parking being pulled out of the basements to minimize footprint
Mixed-Use Developments: Navigating the Factors (Market, Financial, Physical, Design and Public Issues) to Create a Successful, Transformative Project
Diamond View (East Village) located in downtown San Diego
Redeveloped, added a soul and incorporated the element of baseball
Added creative offices with more amenities and hefty TIs and added a bike store on the ground floor
Achieved 30-40% higher rent than the rest of the office buildings in the CBD area
Uptown Newport – “horizontal” mixed-use development (as opposed to vertical mixed-use), originally has no residential component but due to the recession this changed in 2016
There was no lease on the table, had to renegotiate all leases
Sears Tower
Redeveloped because it was not getting the love; entrances was not ideal because the same entrance/elevator serviced workers and tourists (sky deck)
Redevelopment separated the workers and tourist and created two different lobbies with different entrances.
Has a sense of street feel that integrates well with the surrounding community
Added amenities for its workers
Currently 60 percent leased.
Disruptive Innovations and Applications in Commercial Real Estate
Stanford is attempting to create the first “virtual/digital” economy
Can show transactions occurring and moving in real time and ability to forecast
Integrate all information
Urban cities are the areas generating the most GDP, if these cities were to be take out, then “negative GDP” would be tracked
70 percent of top 10 tech companies provide services for these urban cities
Government has low interest in tech and their interest do not align with the real world
i.e. 75 percent of the surface area in San Francisco is covered with single-family, this is due to the zoning code back in the days – the lack of housing now is a zoning problem and not derived from employment and technology.
Disruptive Tech
Having intelligent algorithm building other algorithm – no human intervention
Exponential growth with technology
Major crisis in innovation due to disconnect with the world
95 percent of disruptive tech fails vs. 90 percent of startup fails
Current State of Silicon Valley
Over $60 billion in startup investments in the last year
Over 157 “unicorns” (companies with $1.0 billion or greater valuation)
Silicon Valley contains 10,000 tech companies
Average tech salary broke $200,000
Average work week of 65 hours
2.7 service jobs created for every one tech job
Highest cost of living in the nation
Highest income disparity
Obsessive culture – “Wall Street West”
Google spent $19 billion on acquisitions last year
Home to Apple, Tesla, Uber, Intel, Facebook, Google, etc.
Listed in Top Five metro area with the worst infrastructure in the nation
Ties Los Angeles for the worst traffic congestion
Driving housing costs up dramatically, only 10 percent of resident in SV can buy a house
Convergence of Continuously-Connected Delivery Technologies
Solar Roads and Smart Tags
Solar roads in China produce enough power for 6,000 houses for every one mile of road
Solar road connects to the inventory of trucks driving above it using scanners
AV vehicles and content always connected
Connection crosses work, cloud, and home
Now possible to service customers and understand exactly what the need and when
China SenseTime
Imaging sees faces, actions, and objects linking to database apps leveraging A.I.
Correctable actions possible
Different kinds of imaging
Visual
Hyperspectral
Heat Ranges
Able to track people and objects, read body language, and connect to profile history from social media
