The parking lots that surround Dodger Stadium generate about $11 million a season in parking fee revenue (guess those higher rates add up). That’s a lot of money but that sea of asphalt might be even more valuable if all or part of those lots were transformed into a residential community. The possibility of parking condos instead of cars on the lots was raised in a Sunday L.A. Times story about the fate of the 350-acre Dodger property after Major League Baseball stripped team owner Frank McCourt of operating control. McCourt divided the team and stadium property into separate companies. If MLB finds another owner for the Dodgers, McCourt might remain owner of the stadium property, according to the Times story. What would he do with that land? It’s still too early to say but new Dodger executive Steve Soboroff told the Times that housing might be a possibility:
Dodgers vice chairman Steve Soboroff, who shepherded a major retail and residential development at Playa Vista, said the Dodger Stadium property might best be used for residences around the perimeter. Soboroff emphasized he has not talked with McCourt about land development since joining the Dodgers last month — “I wasn’t hired to do that,” he said — but added that the most feasible development would be limited and community-oriented, with cash flow years down the road. “You’re not talking about a large-scale project,” Soboroff said. “It would take five, six, seven years to do it right. You want the community and the neighbors to say things are better because of it.”
The story notes that McCourt would likely have to battle MLB as well as his ex-wife, Jamie, over any attempt to hold on to the Chavez Ravine property underneath the stadium. If housing is ever built on the team’s parking lots, things will certainly get a lot more crowded around Dodger Stadium since Barlow Respiratory Hospital, which sits next to the Stadium, wants to develop 888 units of housing on its property.