As you drive on Lakewood Boulevard in between Spring and Carson, it’s been hard to miss the empty land to the west where Douglas Aircraft/Boeing used to be. And you have probably been following plans for the Douglas Park, a light industrial and research center, which will be built at that location. The Park is expected to create up to 11,000 high-paying jobs (think engineers and Phds) with an annual payroll of about $1B.
Just recently, however, the developer has decided not to build the 1,400 residences that had originally been planned. Even with the 1,400 residences, some 9,600 employees would have been looking for a place to live. Now it will be all 11,000 who need a home. I don’t know when the hiring will start, but tremendous upward pressure on housing prices within a 30-minute drive of the Park is imminent. Hold on to your equity seat belts!!