Los Angeles Rams select Turner/Hunt JV to build $2.5B stadium

Dive Brief:

Hollywood Park Land Company, under Los Angeles Rams owner Stan Kroenke, announced it has chosen the joint venture of Turner Construction and AECOM-owned Hunt Construction to build the team's 70,000-seat stadium in Inglewood, CA.
The NFL stadium is expected to cost approximately $2.5 billion and is part of a broader 298-acre mixed-use development plan, which includes retail space, a performance venue and a hotel.
The Rams ownership expects construction on the massive development, designed by HKS Architects, to be complete in 2019. The team will play in the Los Angeles Coliseum for the next three seasons until the new stadium's debut.

Dive Insight:

The Turner-Hunt team beat out competitors including Tutor Perini and a Skanska-Webcor JV during the selection process, according to NBC News. AECOM and Turner have extensive experience in the sports world. Combined, they have built 17 NFL stadiums and renovated 10. Peter Davoren, president and CEO of Turner, said in a press release, "The new home of the Rams will set the gold standard for stadiums and we celebrate Stan Kroenke's vision and commitment to creating something truly unprecedented."

Plans for the new complex picked up steam when NFL owners approved the relocation of the Rams from St. Louis to Los Angeles in January. Once complete, the Rams stadium will represent the largest sports venue in the world and will likely be shared by either the Oakland Raiders or San Diego Chargers.

The Chargers have until January to decide on their plans, allowing time to consider the outcome of a vote on public funding in November. In March, the Chargers unveiled plans for a $1.8 billion stadium and convention center in San Diego. If public financing scores the support of San Diego voters, the deadline to decide where the team will play would be extended to 2018. If the Chargers choose to not share the new venue with the Rams, then the Oakland Raiders would have the option to relocate there. However, the Raiders have flirted with the idea of moving to Las Vegas, despite NFL objections.

Inglewood, CA, officials expect the new Rams stadium to bring an economic boom to the area, as developers have set a 30% local hiring goal and predict the project will create 3,500 onsite construction jobs and another 10,000 ancillary jobs. Inglewood Mayor James T. Butts said in January that the city should receive $13 million to $14 million in sales tax revenue from material used during construction. Once the venue opens, Butts expects Inglewood to collect another $16 million to $20 million in revenue from the stadium, as well as from commercial and housing development.