Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, announces plans to develop a second student apartment community in the Los Angeles market. Construction is scheduled to begin by the end of 2023 on the 435-unit community located 0.3 miles from The University of Southern California’s campus. The new residential community will be one of the largest purpose-built student housing developments at USC. While plans are still progressing, Landmark expects to deliver more than 1500 beds for the Fall of 2026.
“We are excited to break ground on our first project at USC,” said Landmark President and CEO Wes Rogers. “As the nation’s largest developer of student housing serving students at Tier 1 universities across the country, we have been attracted to the USCmarket for some time. We look forward to providing more USC students with a luxury off-campus living option steps from campus.”
Located at the corner of West 39th and South Figueroa streets in “the New Ninth” district of Los Angeles, the site was acquired from Ventus Group, an Orange County based mixed-use developer. “This was a complex land assemblage and entitlement process that our team worked on for many years to create this rare, urban infill opportunity,” said Scott Gale, CEO of Ventus Group. “A project of this magnitude requires patience, persistence and vision, and it is rewarding to be an integral part of something that is set to have a big impact.”
“This asset represented a true labor of love given the difficulty and time associated with the land assemblage,” said Kevin Shannon, Co-Head of Newmark’s U.S. Capital Markets group. “This best-in-class student housing development will be an attractive addition to the USC community.”
The residential community will offer several distinct floorplans, ranging from studio to five-bedrooms. The careful design of these units will…
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