Spectrum Group ditches high-rise tower in Exposition Park development

An initial study proposed a 21-story hotel tower on 39th Street

TRD LOS ANGELES /
Oct.October 13, 2017 01:00 PM
Old (top) and new (bottom) renderings of The Fig (Credit: Visionscape Imagery, WATG)

Sometimes bigger is not always better, especially in a town where “bigger” tends to mean “more neighborhood opposition.”

Irvine-based developer Spectrum Group may be taking a cue from the city’s many developer v. neighborhood battles. It officially discarded its proposed high-rise tower from its massive mixed-use development proposal, called “The Fig.” The project in Exposition Park would sit across the street from Banc of California Stadium and near the University of Southern California’s campus, Urbanize reported.

Renderings, designed by WATG and Architects Orange, hint that the high-rise would be replaced with several seven-story structures stretching across the property at 3900 Figueroa Street.

The proposed development would now consist of three separate buildings featuring a 298-key hotel, 222 units of student housing and 186 apartments, according to a recent environmental impact report.
Approximately 82 of the 186 apartments would be set aside for residents earning 80 percent of the area median income, or less.

Other features of the Fig would include ground-level retail, creative office space, a seven-story parking structure with a rooftop amenity, restaurants and public meeting spaces.

Construction is expected to occur over 18 months, subject to approval from the city.

The Fig is just one of the housing projects aimed at serving USC students. Most recently, the University opened USC Village at the corner of Hoover and Jefferson streets, a $700-million, 1.2 million-square-foot complex with housing for up to 2,500 students. [Urbanize]Natalie Hoberman


Related Articles

arrow_forward_ios
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

arrow_forward_ios
Loading...