Rams owner and billionaire developer Stan Kroenke is placing a high-stakes bet on the future of production in Los Angeles with the announcement of Hollywood Park Studios — a major new soundstage and office complex rising next to SoFi Stadium in Inglewood.

Set on a 12-acre parcel within Kroenke’s sprawling 300-acre Hollywood Park development, the first phase will feature five 18,000-square-foot soundstages, two of which can combine into a 36,000-square-foot mega-stage. Supporting infrastructure includes 80,000 square feet of production office space, a 1,100-car parking structure, and room for 60 trailers. Long term, plans call for up to 20 soundstages and an additional 200,000 square feet of creative office — all built to court major productions before and after the 2028 Summer Olympics, when the facility will serve as a broadcast hub.

Kroenke’s timing may raise eyebrows. A recent FilmLA report revealed that average soundstage occupancy in the L.A. region dropped to 63% in 2024, down from 69% in 2023, and a far cry from the 93.5% average seen between 2016 and 2022. But he’s clearly playing the long game.

“The vision for Hollywood Park has always been to build a city within a city, combining media, entertainment, and technology,” Kroenke said. “This is about welcoming a new industry to our live, work, play destination — and bringing a little bit of Hollywood to Hollywood Park.”

Hollywood Park Studios joins a pack of ambitious L.A.-based studio projects fueled by real estate and private equity, from BARDAS and Bain Capital’s $600M Television Center redevelopment to Hackman Capital and East End Studios’ recent expansions. Despite a crowded field, L.A. still holds the upper hand in infrastructure — with over 8 million square feet of production space and 13 new studio campuses in the works.

But competition is tightening. New York just raised its annual film tax credit pool to $800 million, with juicy new perks for indie productions and faster credit recovery. California, meanwhile, is pushing a bill that would more than double its own incentive pool to $750 million, with expanded eligibility for animation, competition shows, and L.A.-based productions.

Kroenke’s larger vision goes far beyond soundstages. Hollywood Park already includes SoFi Stadium, YouTube Theater, the NFL’s West Coast HQ, a luxury hotel currently under construction, retail, restaurants, apartments, and even a movie theater. With the Olympics on the horizon and the entertainment world evolving toward cross-platform content, this is a bet on L.A. remaining a capital of global storytelling.

Kroenke’s Hollywood Park Studios is a $300M+ swing at making Inglewood the next big studio hub. The Olympics may be the catalyst — but the long-term plan is to make it a permanent player in Hollywood’s high-stakes production real estate game.