Anaheim Releases Stadium Development and Land Rights for $325M

The Anaheim City Council has officially transferred the land and development rights for 150 acres of parking lots and related holdings at Anaheim Stadium to Angels owner Arte Moreno in in a 4-2 vote.

The vote is just a beginning to the process, as either party retains the right to walk away from the negotiated vision plan for the mixed-use development project that is expected to include multifamily, hospitality, retail and workplace development in a cohesive master plan.

As proposed and currently structured, the City of Anaheim will sell the stadium and parking lots to Moreno’s SR3 Management Co for approximately $325 million, with a price finalized in 2020 after community benefit programs are agreed upon.

Terms of the agreement have the Angels becoming the sole entity in charge of renovating or replacing the stadium, as well as developing the future mixed use project.

For comments, questions or concerns, please contact Chris Egger