IF F ALL ALL L GOES GOE OES ES AS A PLANNED, PLANN LA ANN NE ED D, 2013 will
IT TAKE TAKES ES A V VILLAGE ILLAGE
2012 20 12
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maark a milestone mark millestone n for USC S – the year it begins shedding the llast astt vestiges of its fo as fformer r er identity rm identtit ity ass a commuter scho school. h ol. The university is laun launchu ching the largest economic econom omic dev development velop pme m nt project in South hL Los os Ang Angeles ngel eles e h history isto t ry – the Villa Village age g at USC – a $1.1 $1.1 billion dynamic d nami dy m c mixed-use retail and n h housing ousingg center designed to meet e both student and and community demand demand. d. Bu Built uilt entirely o univers on university-owned sity-owned property prroperty ty using only private funding, fund nding, g the the project pro r je j ctt iss expected expe pected ed too create crea cr e te 12,000 new w jo jobs bs – 88,000 ,0000 of them th hem permanent. permanent nt. “Noo othe “N other h r pr proj project oject of thiss size or scale is happening peni pe ning n anywhere any nywh where in Los Los Angeles Anggeless without some form fo rm of of public publ b ic subsidy,” subsidy dy,”” notes notes es Kristina Kristina Raspe, USC’s’s vi USC’ vice ice presi president side dent ffor o rea or real e l estate development and d asse asset s t ma mana management. n gement n. The Vill Village lage at USC C is a major part of the th he new mast master s err plan fo for or th the he University Park Park campus, begun begu g n in 2006 200 0066 and approved ap ppr proved by the Board of Trustees Trus Tr uste tees e in in 2009. 2009 20 0 . The bu Th bulk of th tthee proj project’s o ect’ t s 3.16 milli million l on square feet fe et will wil i l be b devoted dev e ot oted to to student stud den nt dwellings. d el dw e lings. But a key key element is the addition n of up p to 350,0 350,000 , 00 square squa sq uare feet off much-needed mucchh needed community-serving com mmu m nity-serving resources, reso sour u cees, including incluudi dingg sit-down sit i -dow wn restaurants, a food court, cour u t, a full-service full-seerv rvic icee grocery gr store, and and numerous numerous service serv vic icee pr prov providers, ovid ider ers, s, such suc u h as a dry cleaner, hair salon and an d sh shoe oe rrepair e aiir shop. ep s op. Some of these services sh already alre al read adyy exist, exis ex ist, t and nd many man ny cu ccurrent rrent providers will be given giv iven en the the h opportunity opporrtunity to lease leas a e within the new ne w complex. comp mple lex. x “Our ggoal “O oall is oa i tto o in include nclude all of the sshops hops and services serv se rvicces aany ny oother ther th er small cit city i y or resid residential dential area would w wo uld ul d ne need need,” ed,” Raspe Ras aspe p aadds. dds. Retailers the university vers r ity hopes hope ho pess to attract att ttract include include Trader Joe’s, an Apple Appl Ap ple st store, tor o e, a b bookstore ookstore oo re and popular clothing chains. ch hai ainss. “The V Village illa il lage g att USC USC will wi make the th he univerunivversity si ty an outstanding outs t taand ndin ingg living livi li v ng n environment env n iron o ment for our students t and nd the he most mos ostt inviting in nviting place place c possible forr faculty, fa y, staff sta taff ff and and our our neighbors,” , says USC president pres esiden e t C. CL L.. Max Ni Niki Nikias. ias a . “I ““Itt alsoo will enhance the university’s th univ un iversity’s longstanding longssta t nd nding commitment and importance importan nce to the region, as USC remains the largest privat te em employ o er in the city of Loss private employer Angeles, Ange An geles,, w with ith an eeconomic c no co n mic im impact mpactt of $5 billion annually.” annu nually.”” While Whil Wh ilee it iss the th he largest larg rges est single construction project proj o ec e t in the he w works orks or k at th the he un uuniversity, iversity, the Village at USC C is justt one compone component n nt of an n overarching in ng pl p plan an that encompasses bo bboth th h tthe h Universit he University iy Park Pa r and and n Health Hea e lth h Sciences Scie i nces campuses. campu p ses. Some
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DEVELOPMENT DEVE DE VELO LOPM MENT PROJECT PROJ OJEC CT IN SOUTH SOU UTH LOS ANGELES ANG GEL LES HISTORY, HIST HI STO ORY, NEARLY NEARLY Y DOUBLING UNIVERSITY-OWNED UNI N VERS SIT TY-OW O NE ED STUDENT ST TUDEN NT HOUSING HOUS SING AND BRINGING ESSENTIAL ESSEN E TIAL NEW NEW E SERVICES SERV VICES TO THE TH HE ENTIRE E TIRE COMMUNITY. EN
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