Figueroa Corridor continues to fill in
A 145-unit housing complex three-quarters of a mile from campus will break ground in 2009.
Ryan Furlong
Issue date: 11/1/07 Section: News
Development along the Figueroa Corridor continues to expand with plans underway for a new student apartment building near the intersection of Figueroa Street and Adams Boulevard.
The 145-unit housing complex at 2455 S. Figueroa St. will have four floors of student housing, two levels of underground parking and house up to 500 students, said Andrew Nelson, project manager for Red Oak Investments, the development firm behind the project.
"We're going to try to make it the nicest thing available. But at the same time, it's not going to be super opulent, extravagant living like you'd see in Beverly Hills or somewhere," Nelson said. "It is, after all, student housing.
Although plans are still being finalized, the housing proposal submitted to the City Planning Department for the 1.67-acre lot is set to include a lobby, community space, four courtyards, a hot tub and possibly a theater.
Residents will be able to use common spaces such as game, television and movie areas, a gym and study rooms, Nelson said.
The new apartment complex comes as USC finds itself in a housing crunch, unable to provide housing for all its students. Students say the housing available is either too expensive or too far from campus, causing an inconvenience and a shortage of apartments.
Private developers, such as Conquest Student Housing, CDI Management, Inc., and Cal Student Housing, have come into the area to accommodate students' need for housing.
A study done by the Urban Land Institute, an organization that provides expertise in the real estate field, found housing around USC is not meeting student demand and recommended that USC consider building higher density developments to meet that need.
While USC has not built any high-density buildings recently, Red Oak Investments officials said they have proposed building a higher density complex near USC because of the growth potential here and the strong student demand to live close to the university.
The 145-unit housing complex at 2455 S. Figueroa St. will have four floors of student housing, two levels of underground parking and house up to 500 students, said Andrew Nelson, project manager for Red Oak Investments, the development firm behind the project.
"We're going to try to make it the nicest thing available. But at the same time, it's not going to be super opulent, extravagant living like you'd see in Beverly Hills or somewhere," Nelson said. "It is, after all, student housing.
Although plans are still being finalized, the housing proposal submitted to the City Planning Department for the 1.67-acre lot is set to include a lobby, community space, four courtyards, a hot tub and possibly a theater.
Residents will be able to use common spaces such as game, television and movie areas, a gym and study rooms, Nelson said.
The new apartment complex comes as USC finds itself in a housing crunch, unable to provide housing for all its students. Students say the housing available is either too expensive or too far from campus, causing an inconvenience and a shortage of apartments.
Private developers, such as Conquest Student Housing, CDI Management, Inc., and Cal Student Housing, have come into the area to accommodate students' need for housing.
A study done by the Urban Land Institute, an organization that provides expertise in the real estate field, found housing around USC is not meeting student demand and recommended that USC consider building higher density developments to meet that need.
While USC has not built any high-density buildings recently, Red Oak Investments officials said they have proposed building a higher density complex near USC because of the growth potential here and the strong student demand to live close to the university.
Viewing Comments 1 - 8 of 9
Kat
posted 11/01/07 @ 10:25 AM PST
I live just past Adams and the walk really is not that bad at all. With a bike I may take 7-10 minutes if I hit all the red lights, and walking takes me about 15-20 minutes. (Continued…)
ferp
posted 11/01/07 @ 4:24 PM PST
the solution to USC's housing problem will come in ~3 years when the expo line is finished. Students will be able to quickly commute from downtown & anywhere along the Figueroa corridor, or from Palms & Culver City. (Continued…)
usc fan
posted 11/05/07 @ 6:36 PM PST
There is no shortage of housing for students around USC.
That's the just the line used to get the city to approve massive developments that are way out of line with existing zoning. (Continued…)
Rick Benton
posted 3/18/08 @ 9:05 AM PST
Are these developers serious with that location? Do they really think students will live north of Adams when there is plenty of available housing much closer to campus? I just came from Conquest and they have apartments still available in 18 different buildings. (Continued…)
Cindy Waltham
posted 3/18/08 @ 10:46 AM PST
I can't believe this project is actually planning to break ground in 2009 and open in 2011. That's the same year USC is beginning their master plan to provide housing for every undergraduate student and one year of housing for every graduate student (www. (Continued…)
Shane Purcellis
posted 3/21/08 @ 11:56 AM PST
Looks like this developer really missed the market. Conquest already added 6 new buildings to the area, and USC built new dorms on campus. Both of these new projects resulted in the supply catching up to demand in the area. (Continued…)
Ali
posted 3/22/08 @ 9:21 AM PST
uscfan is right. There is no shortage of housing around campus. He is totally right. It is just used as a line to get housing built for USC without USC spending any cash to build it themselves. (Continued…)
Michelle Tremain
posted 3/24/08 @ 5:44 PM PST
Kat, I was just reading your comment and I totally agree with you on everything. USC has been making all the right moves to help its students out. They can't make the move until 2011, but starting in Jan '11 they will develop the University Village land into student housing that will guarantee all undergraduate students a spot in brand new buildings for all 4 years of school. (Continued…)
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