The looming completion of a new NBA arena — along with a trio of major sports events planned — is spurring more real estate demand in Inglewood, California, next to Los Angeles.

The Los Angeles Clippers expect to wrap up construction this summer on the nearly $2 billion Intuit Dome in Inglewood, a venue that's expected to play host to the 2026 NBA All-Star Game, the NBA confirmed at a press event Tuesday at the site. Industry professionals have said the arena's completion is critical for the 2028 Olympics planned for greater Los Angeles, with the new venue serving as a host for competitions.

Intuit Dome's neighbor, the roughly $5 billion SoFi Stadium, will also host Olympic events, about one year after it hosts the 2027 Super Bowl.

"There's no city in the history of the world that's had three international events in three consecutive years," Inglewood Mayor James Butts said Tuesday.

The international sporting events — along with regular season games, concerts and other live shows — are spurring more demand for hotels and retail in Inglewood, Butts told CoStar News after the press event. Inglewood is roughly 11 miles southwest of downtown Los Angeles.

There are a handful of hotel projects in various stages of development in response to a rise in visitors drawn by the city's two newest arenas, according to Butts. Last year's concerts from Beyonce and Taylor Swift alone brought 720,000 people to Inglewood, Butts said, while the NBA All-Star Game is expected to generate $350 million in economic activity.

"We're making [Inglewood] a greater tourist destination so that we can capture a lot of tourist dollars for the events that are coming to, what we believe, is the sports epicenter of California," Butts said.

SoFi Stadium and Intuit Dome have supercharged the city of Inglewood where property values have tripled and hundreds of millions of dollars in property sales have occurred in recent years, Butts said.

SoFi Stadium delivered in 2020 within billionaire developer Stan Kroenke's nearly 300-acre Hollywood Park mixed-use development that has yet to complete construction, with roughly 890,000 square feet of retail and creative office space in the works alongside two newly-opened apartment complexes.

The planned 17,700-seat Intuit Dome started construction in September 2021 and topped out in March 2023. The dome is expected to feature multiple basketball courts, a medical and training facility, an 80,000-square foot outdoor plaza and a nearly 1-acre video board that's billed as the "largest-ever double-sided halo display in an arena setting," according to the project's website.

The arena's construction created 7,000 jobs and is expected to inject $260 million in annual economic activity to Inglewood when it's finished, according to the project's website.

Clippers owner and former Microsoft executive Steve Ballmer said the Intuit Dome will offer "the pinnacle" basketball experience on Earth.

"Of course, in some year, somebody will bypass us," Ballmer said. "But man we put everything into getting ahead of that in this building."