One Sunday in Los Angeles, an arena hosted two professional basketball games. It then held a professional hockey game the next day and welcomed a Grammy-winning musician the following day.
With so much activity in a matter of three days, some may wonder what else this city could possibly need.
But at least one Los Angeles real estate developer believes there’s still something missing: a National Football League stadium and franchise.
Majestic Realty Co., headquartered in City of Industry just outside of Los Angeles, is spearheading an initiative to fill that void. It has developed a website to promote the stadium, but has yet to gain much traction.
John Semcken is the vice president of Majestic Realty and is the man who has recently put a face to his company’s plan. He, however, did not return calls to further comment on the project.
Brock Buccola, who works about two blocks away from the Staples Center in downtown Los Angeles, said he would be on board for another team in the area.
“I would be really interested and excited to have another team here,” said Buccola, who is the director of finance for a local law firm.
Buccola grew up watching the Los Angeles Rams play at the Los Angeles Memorial Coliseum, and was devastated when the team packed its bags to move to St. Louis in 1994.
“For me, it was a serious blow,” he said. “It took away a part of my childhood.”
Buccola said that his father used to have season tickets to the Rams games and would often spend his Sundays at the stadium. He said he would like to be able to return the favor to his children, but simply can’t because there’s not a team nearby.
“We are the second biggest market and we haven’t had a team since 1994,” he said. “You’re watching the NFL from the sidelines now because there’s no real hometown team to root for.”
Buccola added that having a team in Los Angeles would benefit the area for several additional reasons, as well.
“It would be successful in the downtown area,” he said, which has seen many improvements. “I think it could support another team. With the infrastructure, I think it’s pretty well established and it would be a boom to the local economy here.”
Majestic Realty put up a website that supports Buccola’s theory that the stadium would boost the local economy. The website, LosAngelesFootballStadium.com, publishes economic development statistics about the potential stadium and other information.
The plan is for the stadium to be completely funded by private organizations, at no expense to taxpayers, and would cost $800 million to build.
Regardless of the cost, Majestic Realty is still trying to sell the idea that the stadium will be an all-around benefit for the local economy surrounding the city.
The website claims that more than 18,000 new jobs would be created, the local government would receive about $21.2 million in new tax revenue and there would be a $762 million economic impact for the whole region if the stadium is built.
The Industry city manager’s office also declined to comment about what the project could do for the local economy.
AEG, a separate company that also developed a plan to build a new stadium in Los Angeles, announced recently that its chief executive, Tim Leiweke, is leaving the company.