Things are moving along for the massive Village at USC project, which was approved by the City Council last December and is expected to have a $1 billion impact on the local community. Earlier today, USC and Mayor Villaraigosa signed a development agreement for the project--it's expected to begin construction towards the end of the year. Replacing the tired University Village, the new Village will provide 5,200 beds for USC students plus academic buildings, a hotel and conference center, bars, restaurants, and a grocery store and other retail, and is apparently the largest mixed-use project in South LA history, according to the Daily News. In addition to sprucing up the neighborhood, the Village at USC is expected to bring 12,000 jobs to the area, 8,000 of them permanent. As part of the agreement signed today, USC has pledged to hire at least 30 percent of the construction and permanent workforce from the neighborhood, and 10 percent of workers from minority backgrounds, in addition to providing more affordable housing and job training for the community.
· $1 billion USC Village retail-residential project largest in South Los Angeles [DN]
· LA Has Approved Huge The Village at USC Retail/Dorm Project [Curbed LA]