Figueroa Corridor Continues to Fill In
Daily Trojan -- November 1, 2007
A 145-unit housing complex three-quarters of a mile from campus will break ground in 2009.
By: Ryan Furlong
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.
"Figueroa is really perceived as one of those corridors that will grow," Nelson said.
The demand for student housing isn't being met by the university, and providing housing for students is financially viable for private developers, said Jon Soffa, the university's architect and executive director of Planning, Design and Construction Management Services.
"We are talking about the need to build several thousands of units to catch up to the demand," Soffa said. "About double than what the university owns now."
Nelson said he didn't know what the new apartment rent would cost, but he said it would be less than rent at Tuscany, Conquest's luxury apartment complex near the intersection of Figueroa Street and Exposition Boulevard.
Tuscany's lowest monthly rent is for a one-bedroom, one-bathroom apartment at $1,995 per month, and a two-bedroom apartment with two bathrooms at $3,220 per month, according to figures for the current lease period posted on Conquest's website in January 2007.
Students say that housing around USC is either too expensive or difficult to find.
"I got stuck way off campus with people I didn't know," said Marilyn Morris, a sophomore majoring in cinema-television production. "It was more expensive for less space to live on campus than what I'm living in now. Finding housing at USC is ridiculous."
Ike Song, a graduate student studying economics, could not find housing close to campus and now lives downtown.
"I didn't get any housing," he said. "It felt like I was banned from the school."
The Red Oak Investments development will alleviate some of the excess student housing demand, but because it will be built about three-quarters of a mile from campus, some students said they aren't willing live that far from campus.
"It's too far. I like being able to leave five minutes before class," said Lizzie Fabie, a sophomore majoring in theater. "If there is anything I'm paying for, it's the location."
But Ryan Gonzales, a junior majoring in policy, planning and development, said living farther from campus is cheaper.
"If the commodities and cost of the housing development seem reasonable when you factor in its distance from campus, then maybe I'd consider housing farther down on Figueroa," he said.
Red Oak Investments is considering a shuttle or other arrangements with TrojanTransportation to help students get to campus more easily.
Officials from St. Vincent's Catholic Church, adjacent to the lot where the building would be built, said they don't oppose the project. The Red Oak Investments building will be built where church members park now, but the new building will include three levels of parking. The street level will be reserved for church members.
"We have heard nothing negative [from our members] so far," said Brother Tony of St. Vincent's Catholic Church. "I don't think the new development will disrupt or take away from us at all."
Nelson said Red Oak Investments will design a building whose architecture is compatible with the church's and can be integrated into the neighborhood.
"We are trying to be very sensitive in designing a building that fits into the historic context of the neighborhood," he said.
Although Red Oak Investments project managers submitted plans for the development to the city in September, the project must gain environmental clearance before it can begin. An Environmental Impact Report must be completed to assess the impact the development will have on the surrounding area. This process takes approximately one year, said city planner Darlene Navarrete.
The project is also subject to a site plan review, because it exceeds more than 50 housing units.
Once the environmental process is complete, the development's site plan review and parking proposal, which shows whether it will disrupt traffic and ensures adequate parking spaces are provided for tenants, will be considered at a public hearing.
Nelson said the development will likely break ground in the summer of 2009; he said he expects the project to be completed in 2011.
