Los Angeles — Landmark Properties has announced plans to develop a student housing community near the University of Southern California campus in Los Angeles. Located at the corner West 39th and South Figueroa streets, the property will offer 435 units in studio through five-bedroom configurations.
The development will also include 87 affordably priced units, which will be reserved for students that identify at the low-income level or below. Landmark is still in the planning phase for the project, which is expected to feature more than 1,500 beds.
Shared amenities will include a clubhouse; rooftop resort-style swimming pool and grilling area; computer lab; fitness center; on-site parking; and 20,000 square feet of ground floor retail.
Kevin Shannon, Ken White, Greg Galusha, Bryan Norcott, Ryan Lang, Jack Brett, Chris Benton and Anthony Muhlstein of Newmark, in collaboration with Eric Bergstrom at Bergstrom Capital Advisors, brokered the acquisition of the development site from Ventus Group for an undisclosed price.
Construction is set to begin at the site by the end of 2023, with completion scheduled for fall 2026. Landmark Urban Construction will serve as general contractor for this project.