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Really exciting news for students, alumni, fans, and just people who love Los Angeles in general.
This is yet another prestigious move by the University to dramatically improve the environment surrounding the campus.
Here’s the link to the article detailing the expansion plans:
http://buildinglosangeles.blogspot.com/2014/06/demolition-beginning-for-11-billion.html?m=1
How far things have come since my own days at USC. Not only has the University upgraded its own infrastructure, but Downtown L.A. has been revitalized as well. Back then, the only place you could get a semi-decent steak near campus was either the Pantry on Figueroa or Pacific Dining Car on 6th.
Both restaurants remain, their menus, unchanged, so mercifully there are a ton of other offerings now available in the area.
One of the last hold-outs in the immediate area had been this grimy University Mall. That center was bad when I was at USC, and it has remained in this odd gross derelict state…until now.
I love that the article states, “The development has stoked gentrification fears in University Park, where activists feel that the inevitable infusion of wealthier individuals will force working class residents out of the neighborhood.”
Apparently USC has done its part, per the article, by donating $20 million in affordable housing subsidies, but one just has to roll their eyes at the automatically triggered political bureaucracy any time change and progress is proposed. That center in its current form has remained mostly empty, with very few businesses, as I understand it, struggling to make it over the years. This has been a hindrance to the economy.
The USC expansion into the area will create new job opportunities via new housing and shopping venues and its expanded footprint will add greater integrity to the surrounding neighborhoods. This means property values will go up. All of this will benefit the economy.
I can’t stress enough how huge this new development is. Here’s an interesting factoid for you. The recent Cars Land construction at Disney California Adventure cost $1.1 billion, and this USC enhancement will cost $1.1 billion. The original build of all of California Adventure itself was roughly $786 million of a total budget of $1.6 billion that included the construction of Downtown Disney, the parking structure, and city road infrastructure.
So this new investment by USC will cost more than an entire theme park.
Impressive!
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