Planning commission green lights mixed-use complex near USC

The Fig would bring a hotel, student housing, and retail to South LA

TRD LOS ANGELES /
Feb.February 14, 2019 03:00 PM
Ventus Group Executives Scott Gale and John Booty

A new sprawling complex planned for a site near the University of Southern California is making its way through the approvals process, whether opponents like it or not.

On Thursday, the Los Angeles Planning Commission threw its support behind the Fig, a a $300 million mixed-use complex set to bring hotel rooms, student housing, restaurants and shops to South L.A., the Los Angeles Times reported. It still needs approval from the City Council to move forward.

Located on a 4.4-acre site, the proposed project on Figueroa Street would rise across the street from the Banc of California Stadium and near the University of Southern California’s campus. The project would include a cluster of seven-story buildings featuring a 298-room hotel, 200 units of student housing, 200 apartments, office, restaurants and retail space.

Ventus Group, led by Scott Gale and former USC quarterback John David Booty, is developing the Fig. As of January 2018, the firm was looking for a joint venture partner for the sprawling project.

Critics claim the project would increase unaffordability in the area, as it would displace 32 apartments that fall under the Rent Stabilization Ordinance. A spokesperson for the developer countered that statement by saying that Ventus is building 82 units that will be set aside for low income housing.

Opponents also raised concerns about the hotel portion, which city commissioners say could be subsidized with taxpayers dollars. Last summer, City Council voted to hire consultants to analyze how subsidies, or other financial assistance, could help the project move forward in anticipation of the 2028 Olympic Games.

The project would largely complement USC Village, a $700 million mixed-use development to make its way to the area recently. USC Village, which spans 1.2 million square feet, opened its doors in 2017 after three years of construction. [LAT] — Natalie Hoberman 


Related Articles

arrow_forward_ios
California State Senator Scott Wiener and Construction Trades Council President Robbie Hunter

Construction union pulls “anti-Semitic” Scott Wiener attack ad

Construction union pulls “anti-Semitic” Scott Wiener attack ad
Scott Gale and a rendering of the project

Ventus Group can break ground on its $455M Exposition Point project outside USC

Ventus Group can break ground on its $455M Exposition Point project outside USC
Federal authorities charged developer Serena Shi in an alleged $20 million EB-5 scam

Coachella condo project at center of $20M alleged EB-5 fraud

Coachella condo project at center of $20M alleged EB-5 fraud
California State Senator Scott Wiener

Coronavirus could hurt LA’s density push

Coronavirus could hurt LA’s density push
Renters across LA are at their wits end with construction and renovations (Credit: iStock)

LA renters stuck at home are fed up with ‘disruptive’ construction projects

LA renters stuck at home are fed up with ‘disruptive’ construction projects
Ventus Group President Scott Gale and a rendering of the Fig

Ventus Group unveils new plan for controversial Fig project

Ventus Group unveils new plan for controversial Fig project
Mayor Eric Garcetti and SoFi Stadium Justin Sullivan and Scott Varley/MediaNews Group/Torrance Daily Breeze via Getty Images)

LA will shut down construction sites that don’t follow COVID-19 guidelines

LA will shut down construction sites that don’t follow COVID-19 guidelines
Architect Simon Park and a rendering of the project (Credit: SSPSTUDIO ARCHITECTURE & URBAN DESIGN)

Boyle Heights slated for another mixed-use project

Boyle Heights slated for another mixed-use project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...