Inglewood is the fastest housing growing market in LA, according to a recent analysis by PropertyShark. Critics of the new SoFi Stadium say the development will add to many locals getting priced out.
“The stadium was $5 billion. And is there a commensurate amount of money that’s going into stabilizing the over 100,000 residents of Inglewood? That stadium … will reap rewards for those that have invested in it for generations … much as all of the real estate activity that’s around the stadium,” says Damien Goodmon, founder of the Crenshaw Subway Coalition, an organization that works against gentrification in Inglewood.
He says renters make up some 65% of the surrounding community. “If you want to invest in improving the conditions of long-term residents, of communities like Inglewood, Hyde Park, Crenshaw, these historic Black and Brown communities, there are things that you can do, there are dollars that you can put into, there is policy you can make that make sure that those residents improve. … In the absence of those things, those new schools, those new playgrounds, that new transit is for someone else.”