Chevron to be Replaced by Housing
Daily Trojan -- March 27, 2008
The gas station next to the Radisson will be torn down so apartments can be built.
By: Kyla Segalia
Plans are underway to construct Icon Plaza at USC, a new student housing complex to be constructed in place of the Chevron gas station at 3574 and 3584 S. Figueroa Street.
The new housing complex is not owned by the university and would be similar in style to Tuscany, said Eran Fields, principal of the project at FPM Realty, the company building the new structure.
Icon Plaza, expected to be finished in three to four years, will be a six-story building with five stories of student housing and about 13,500 square feet of ground floor retail space.
The building will include a mix of one-, two- and three-bedroom apartments, and will have 65 units, Fields said.
Plans also include three floors of underground parking, two for residents and one for retailers.
"We're really excited about the project. Before we did anything, we showed it to USC and they're happy with the plans," Fields said.
It is too early to specify pricing for the apartments, but Fields said they will reflect market price.
"This is still at the very beginning of the process. The application has just been submitted to the city," said Mark Brown, who also works for FPM Realty.
Icon Plaza will have a pool, a 700-square-foot rooftop deck, on-site laundry facilities, a gym, a courtyard and a recreational room. There will also be study rooms on every floor.
New zoning laws allow builders to put up a six-story building such as this one without having to get a special permit.
"It will actually be much shorter than the Radisson. It's about the same height as the [nearby] parking structures," Fields said.
Ground floor retail will be a similar to those below Tuscany, Fields said.
The company doesn't yet know which retailers will be occupying the spaces.
It had been considering one big retailer, such as a Trader Joe's, but have decided to break it up into multiple retail spaces containing mostly national brands.
FPM Realty currently owns the space that is being leased by Chevron. The company will start building after the lease is terminated.
Most students were not upset about the gas station being torn down and seemed impressed with the project.
Suruchi Wagh, a graduate student in engineering management, said that she would be interested in living there because it would be closer to campus. She also liked the idea of having retail space on the ground floor.
Although USC does not own the space or have any direct control over what is done with it, USC officials are pleased with the planned development.
"[FPM] has been great in making sure that we support their project," said Kristina Raspe, associate senior vice president for real estate and asset management at USC. "It goes well with the architectural styles of the university."
Raspe said she believes that there is a shortage of housing around USC.
"Since the Conquest lawsuit has been settled, we're seeing more private development of student housing. I think we'll see more and more in the next few years," Raspe said.
FPM is trying its best to keep up with university needs.
"They really want to be part of the Trojan Family," Raspe said. "They want to build something that is cohesive with the university style and they certainly want students living there."
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