Designer HKS and developer Hollywood Park Land Company are changing the face of mixed-used facilities. The duo behind the Hollywood Park complex will tap into several revenue streams with a built-in consumer base. After more than a decade of anticipation, the 238-acre Hollywood Park project is finally underway with gusto. Ground broke back in 2014. It stalled and crawled until 2016. This year ushered in new developments. Revenue 1: Mixed-Use Commercial & Residential The 3 million square foot mixed-use property will include 620,000 square feet of retail space, and an unconfirmed quantity of townhomes and apartments, and a luxury hotel with stunning city views. Residents and guests will also have access to a new casino. The former Hollywood Park Casino will be demolished this October and replaced with an 110,000 square-foot facility. The JCJ Architecture design will include 125 card game tables, simulcast wagering, a lounge, a café, and a Century Bar & Grill sports bar. “This new casino was also designed with luxury and convenience in mind,” said Hollywood Park Casino General Manager Deven Kumar in a press release. “The new property will engage the art and social communities featuring global artists’ work throughout. […] Visitors will feel very safe, while enjoying themselves in beautiful surroundings.” Revenue 2: Creative Commercial Spaces To soften the edges of the manmade structures, designers added several green spaces throughout the site. A lake with water features will help to create a cool and calming vibe. These parks can provide rental opportunities for arts and cultural organizations; spaces for vendors with kiosks; and even creative advertising installations for landscaping, home and exterior furnishing companies. The stadium project is slated for completion in 2019 followed by the casino and “mini-city” in 2023. Revenue 3: NFL Gold Two sports teams...

This year, the Super Bowl will be held in East Rutherford, N.J. I live in New Jersey, not too far from there. Because of this, my apartment community recently sent an email memo to all residents saying that all subleases need to be approved, and that they will not be approving any near or around the Super Bowl. The reason the management company listed was to keep the community quiet and peaceful for all of the residents. After all, new people coming in and out of the building at all hours could be loud and disrespectful to their neighbors. Especially people who are there for a short time—they’re likely to treat the place as a hotel instead of a place where people live. Plus, after a day of tailgating, they might end up damaging the units or the common areas. Short-term rentals continue to be controversial—and sometimes illegal. Take, for example Airbnb. This website, which is an Internet service that allows people to rent out their apartments when they’re out of town. Which is illegal in some places, such as New York City. However, according to an article in the New York Times, the legality of renting out an to strangers for a short amount of time has not deterred people from using the service—in fact, according to the article, people are making substantial amounts of money from doing so. So, as a property manager, how can you make sure your residents aren’t participating in this practice? The first step is to have this written out in the original lease. That way if you discover residents are turning your beautiful community into a sleazy motel, you’ll be able to step in and take action according to the lease terms. Additionally, an email, similar to the...