In a scenario that mirrors the seismic economic forces at workin Southern California, a proposal has been floated to convert a16-acre portion of aerospace contractor Rocketdyne's Canoga Parkplant to build a 9,000-seat sports and entertainment complex.
The proposed $60 million project will be unveiled tonight at 7before the Woodland Hills/West Hills Neighborhood Planning AdvisoryCouncil in a public hearing at the Fallbrook Mall, the first step inan approval process that would end with the Los Angeles City Council.
The ambitious plan by self-described entertainment executiveMark Steele of Tarzana includes a bus and rail 'transit center,' afeature designed to alleviate any community concerns about increasedtraffic resulting from the project.
The arena would feature attractions such as a minor-leaguehockey team, professional men and women's volleyball teams, aminor-league indoor soccer team, concerts and 'family-oriented'events such as circuses, ice shows and team tennis.
The complex also would include a general-use recreation centerfor volleyball, two major theme-oriented restaurants andapproximately 20,000 square feet for sports-oriented retail space.
'We think this is the type of development that the (SanFernando) Valley has been crying out for,' said Steele, 32. 'Thedemographics and other factors are perfect. . . . We want to createan atmosphere that simply doesn't exist right now in the Valley.'
The proposal also is a microcosmic reflection of a Los Angeleseconomy that has seen a decline in defense industry jobs and theincreasing dominance of entertainment- and tourism-relatedemployment.
'I think it (the sports arena) sounds like a great idea,' saidBill Huber, president of the Woodland Hills Homeowners Association.'Anything that brings jobs to the Valley, especially something likethis, would be welcome.'
Rocketdyne - a division of Rockwell International - buildsreplacement space shuttle engines, the electrical power system for aspace station and engines for the Atlas and Delta commercial rockets.The contractor also will build engines for the experimental X-33spacecraft project announced recently.
About 3,000 people work on Rocketdyne's Canoga Park campus.Rocketdyne hit a peak of 9,300 jobs in 1989 but now has a work forceof about 5,200 at three facilities, two in Canoga Park and one in thehills northwest of Chatsworth.
The property coveted by Steele is a parcel of land at thenortheast corner of the intersection of Canoga Avenue and VictoryBoulevard, now the site of two Rocketdyne production buildings and alarge parking lot.
Steele said he has been in negotiations with Rocketdyneofficials for about three weeks, since it was suggested by LosAngeles City Councilwoman Laura Chick's office that he pursue thesite. He said he hoped to submit a final bid for the property asearly as next week.
Rocketdyne spokesman Paul Sewell was less forthcoming, sayingonly that Steele had 'approached' Rocketdyne about the property, 'buthe hasn't quantified anything yet . . . it's wait-and-see.'
One source close to the negotiations said the price tag for theproperty is in the $20 million range.
Steele's track record is spotty. He was one of four finalistsfor a proposed redevelopment of Cal State Northridge's DevonshireDowns, but the contract was awarded to another bidder.
He said he currently is involved in a number ofentertainment-related projects, including Triumph Music, a group ofsmall record labels for which he is seeking a distribution deal.
Steele said his financing will come from Mariani Financial Co.,a Los Altos-based investment company. David Mariani, generalpartner, said Tuesday that his firm has talked with Steele and isresearching the project. 'We haven't made a commitment yet,' Marianisaid.
