53-Unit Student Housing Complex Planned Near USC Campus

BY MOSAIC / July 17, 2023

Student housing is generally regarded as a safe investment. Sure, there might be some wear and tear from one too many pregames, but overall it's less susceptible to changes in the market. If you're looking to diversify your portfolio, keep an eye on 1069 West Exposition Boulevard, a proposed mixed-use development from Mosaic Student Communities.

Architectural plans submitted to Los Angeles City Planning last week present a seven-story, 53-unit building with over 1,000 square feet of ground-floor retail. The development company, a subsidiary of Mosaic Investment Partners, is seeking a number of incentives in exchange for providing affordable housing.

According to the application, the project will be "appropriate for students and families," although its proximity to the USC campus is guaranteed to make it popular among the former. Six units will be reserved for extremely low-income households, while the market-rate units will feature two-, three- and four-bedroom floorplans.

A total of 25 parking spaces will be available on the ground floor. The development is located across the street from the Expo/Vermont Metro E Line station, making it easy for residents to get around without owning a vehicle.

The community will boast a lobby, fitness center, study room and an open-air, second-level amenity deck with lounge seating, a game zone, barbecues, fire table and art wall. A two-tier roof deck will feature study pods, hightop bar seating, a fire table and oversized planters.

Renderings depict a multi-color building clad in smooth plaster, board-formed concrete and metal panels. Designed by SVA Architects, the modern exterior will be punctuated by balconies with steel mesh railings and bronze-finished vinyl windows.

The 18,600-square-foot site is currently occupied by four single-family homes, which will be demolished to make way for the new mixed-use development. Situated at the corner of Vermont Avenue and Exposition Boulevard, the complex will be within walking distance of the USC campus, LA Memorial Coliseum, green spaces, museums, grocery stores, restaurants and coffee shops.

Mosaic Student Communities is the third-party property management service of Mosaic Investment Partners, but they also handle leasing and management for outside owners. It's unclear whether or not 1069 West Exposition Boulevard will be marketed to investors or retained by the company if it's approved by the City.

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