Edward P. Roski Jr.
Majestic Realty Co.
Specialty: Industrial development
Recent Deal: Sports arena
Edward P. Roski Jr. has risen over the last two years from being a successful industrial developer largely unknown outside the real estate community to one of the biggest names in the revitalization of downtown Los Angeles.
Roski, along with partner Denver billionaire Philip Anschutz, has won preliminary approval from the L.A. City Council to build a sports and entertainment arena adjacent to the Convention Center. It will house the Kings, which they own, as well as the Lakers.
The pair also promises to spend $500 million to bring a National Football League expansion team to a rebuilt stadium within the historic walls of the Memorial Coliseum in Exposition Park a plan that has met with opposition from NFL team owners.
“With these urban areas, when you put one these facilities (there), you can actually make a real contribution to the community and to that area,” Roski said in a recent interview. “Plus, we think that the central location of the arena really brings all of Los Angeles into it.”
Before Roski turned his attention to professional sports, he made his name in developing industrial and commercial real estate as the president of City of Industry-based Majestic Realty Co., the largest commercial real estate developer in L.A.
Roski, who grew up in Westchester and lives in Toluca Lake, joined Majestic Realty in 1965. His father, Edward Roski Sr., founded the company nearly 50 years ago, and continues to have an active role.
Among Majestic’s biggest developments under the younger Roski are the 550-acre Majestic Spectrum industrial park in Chino, which is still under development; the $155-million Fairway Business Park in Industry, which was completed last year; and the Crossroads Business Park in Industry, which will include 1.5 million square feet of Class A office space when completed.
The company also built the 650-acre Industry Hills Sheraton Resort and Conference Center, which was completed in 1981 and was one Majestic’s first forays into hotel development. Majestic is also developing industrial property in Denver, Las Vegas and Atlanta.
Roski, who graduated from USC in 1962 with a real estate degree, sits on the board of directors of the Big Brothers of Greater Los Angeles Inc. and is a member of the board of governors at the L.A. County Museum of Natural History.