Mixed-Use Student Housing Project Underway Near USC

August 29, 2008

LOS ANGELES – Urban Partners LLC awarded Clark Construction Group - California, LP a $134 million contract for the University Gateway project, a mixed-use student housing project adjacent to the University of Southern California (USC) campus in Los Angeles. The project includes the design and construction of a new student housing facility above a street-level retail podium.

Designed by architect Togawa Smith Martin Residential, Inc. of Los Angeles, the residential component is comprised of 408 two-bedroom, two-bathroom units, 13 one-bedroom, one-bathroom units, study rooms, and open courtyards with landscaping, and approximately 11,000 square feet of student facilities. The contract scope also includes the construction of 78,000 square feet of retail space and an eight-story parking garage. The structure will be reinforced cast-in-place concrete with an exterior skin comprised of stucco with brick tile veneer accent bands and punch windows. The building's ground level will house retail and restaurant space, and will feature storefront glass windows with stucco with brick accents.

The project equity partners include RCG Longview, BREP IV (an affiliate of Blackstone Real Estate Advisors), and Real Estate Capital Partners.

Project partners include The Englekirk Companies, Los Angeles, structural engineer; KHR Associates, Newport Beach, Calif., civil engineer; and Mandrez Landscape, Los Angeles, landscape architect. Construction on the project began in May and is scheduled to be complete in June 2010.