Financial Feasibility Analysis | Fiscal and Economic Impact Analysis
Sports District Development | Urban Mixed-Use
Urban | Redevelopment
The Challenge
Angels Baseball and Brooks Street, the team’s real estate advisor and development partner, engaged RCLCO to provide consulting services in support of their attempt to purchase Angel Stadium, along with the surface parking lots surrounding the stadium, from the City of Anaheim. Development trends in the surrounding area suggested that the area was primed for a transition to mixed-use and the team wanted the opportunity to build a new ballpark in conjunction with new mixed-use development on the surrounding site.
Solution
RCLCO’s role was to provide market, financial, fiscal, and economic impact analyses regarding mixed-use real estate development opportunities surrounding Angel Stadium. Over the next 20 years, our work demonstrated the opportunity for nearly 6,000 new residential units 2.6M square feet of new office, almost 1 million square feet of office, and 1,200 new hotel rooms.
Impact
With RCLCO’s reports as support for the negotiation, the city approved the sale of the 153-acre property for $325 million in December 2019.