This week on our neighborhood highlights blog, we are focusing on the USC/University Park area, which has undergone major gentrification and developments in the last few years. USC’s initiative to improve the school and reduce homelessness in the surrounding areas of the campus has become a driving force behind the changing social and economic climate of the neighborhood.
Properties falling in the 90007 and 90089 are primarily included in the USC/University Park area. Close zip codes such as 90018 and 90037 are also highly affected by the developments that are currently taking place.
Below are some neighborhood highlights near the USC/University Park area:
Banc of California Stadium
The Banc of California Stadium is the official home to the Los Angeles Football Club (LAFC), Los Angeles’ new soccer team. The stadium opened its doors to fans for the first time on April 18, 2018 and held the LAFC’s first home game on April 29th, 2018.
The 22,000 seat stadium brings in $350 million in private investment to South Los Angeles, creating hundreds of new job opportunities.
In addition, the stadium is currently scheduled to be a part of the Downtown Sports Park and play host to some Track and Field and Soccer events in the 2028 Summer Olympic.
George Lucas Museum
The George Lucas Museum has been the newest addition to the USC area. Approved last year, this $1.5 Billion project located on Vermont Avenue in Exposition Park is set to open in 2021.
Construction broke ground in March of 2018. The museum will feature exhibition space, an archive, a library, a lobby, classrooms, two state-of-the-art theaters, a museum shop, and a café. The museum will also be surrounded by 11 acres of park space.
The highly anticipated USC University Village made its debut in August 2017, featuring notable stores such as Target and Trader Joe’s as well as a massive 8,000 square foot dining hall, seating nearly 400+ students.
The $700 million project covers over 15 acres of land, bounded by Jefferson Boulevard, McClintock Avenue, and Hoover Street.
Below are several planned developments that will come to University Park in the next few years, which will significantly impact real estate value in the area:
If you’re interested in selling your building and would like a current market valuation of your property, please contact Anie Mayelian at 818-915-9118 or email.