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Economic Development - Kristina Raspe

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Economic Development - Kristina Raspe

  1. 1. Kristina RaspeVice PresidentReal Estate Development & Asset ManagementBest Practices for Buildinga Communityon and offAcademic Campuses
  2. 2. University Statisticso Two Campuses– 249 Acres- University ParkCampus (UPC)– 79 Acres- Health SciencesCampus (HSC)o Campus Populations– 18,000 Undergraduate Students– 22,000 Graduate Students– 15,700 Faculty and Staff– 343,000+ Living Alumni
  3. 3. Largest Private Employer inCity of Los AngelesEconomic Impactso $2.1 Billion Annual DirectSpendingo $1 Billion Annual Payrollo 88% Spent in Los Angeles Countyo $503 Million Annual Spending byStudentso $4.9 Billion AnnualEconomic Impact
  4. 4. Building Description- 103,500 squarefeet in 3 stories, 1 of which is below-gradeo Purpose- Enhance athleticfacilities & academic serviceso Schedule- January 2011 startdate, occupancy in August 2012o Budget- $54 MillionJohn McKay Center
  5. 5. Building Description – 100,000square feet in 5 stories, plus abasemento Purpose – Enhanced & expandedstudent health services, as well asan oral health clinic, a faculty/staff clinic, and physical &occupational therapy serviceso Schedule – May 2011 start date,Occupancy in January 2013o Budget - $57 Million (completedfor $52 Million)Engemann Student HealthCenter
  6. 6. Building Description – 62,500 squarefeet in 3 storieso Purpose – Complete the creationof the new Cinematic Arts Schoolfacilities with the addition ofclassrooms, computer labs, ascreening room and officeso Schedule – September 2011 startdate, Occupancy in June 2013o Budget - $50 MillionCinematic Arts Phase III
  7. 7. Building Description – 84,000 squarefeet in 3 storieso Purpose – Enhanced & expandedcommunication and journalismteaching facilitieso Schedule – September 2012 startdate, Occupancy in December2013o Budget – $67 MillionUSC Annenberg AcademicBuilding
  8. 8. Building Description – 110,000 squarefeet in 5 stories + a lower levelo Purpose – Interdisciplinary dry-lab research building intended tobe the home of several researchinstitutes & centers as well as top-notch researchers from multipleschoolso Schedule – May 2012 start date,Occupancy in August 2014o Budget – $65 MillionVerna and PeterDauterive Hall
  9. 9. Building Description – Estimated to be90,000 square feeto Purpose – Additional classroomspace for undergraduateeducation, reducing class sizesand increasing student learningoutcomeso Schedule – 24 month schedule,commencement upon fundraisingo Budget – $60 MillionJill and Frank Fertitta HallMarshall InstructionalBuilding
  10. 10. Building Description – Estimated to be235,000 square feet in 2 buildingso Purpose – Creation of a strongerclinical core at the HealthSciences Campus with theaddition of a state of the artcancer-focused clinical centero Schedule – 27 month schedule,commencement upon fundraisingo Budget – $130 MillionNorris HealthcareConsultation Center
  11. 11. Building Description – Estimated to be150,000 square feeto Purpose – Interdisciplinarybuilding providing wet & dry labspace to enable both Dornsife &Viterbi to expand programs andrecruit transformational facultyo Schedule – 24 month schedule,commencement upon fundraisingo Budget – $120 MillionDornsife/Viterbi ResearchBuilding
  12. 12. The Village at USC
  13. 13. o Additional Student Housingo Dining & retail options toserve the surroundingcommunityo Open space, campus &community support serviceso 35 acres total of University-Owned Propertyo Directly adjacent to campusNeedsOpportunity
  14. 14. o Additional Student Housingo Dining & retail options to servethe surrounding communityo Open space, campus &community support serviceso Accommodate the physicalgrowth of the campus in supportof USC’s role & missiono Create a safe, attractive,sustainable residential campus &neighboring urban communityo Budget – Phase I $500 Milliono Budget – All Phases $1.1 BillionThe Village at USC
  15. 15. Hoover30thSite Plan
  16. 16. View of Plaza
  17. 17. View of Graduate Towers
  18. 18. View of New Main Street
  19. 19. View of the Corner of Jefferson & Hoover Streets
  20. 20. Economic Impact Summaryo $1.1 Billion Project Budget resultsin $1.59 Billion of economicoutput impact in Los Angelesregional economyo $359 Million (2009 dollars)annual impact from operation onLos Angeles County economyo 9,089 Total Jobs Created - 4,894of which are construction jobs
  21. 21. o $130.8 Million in additionalrevenue for the City’s GeneralFund over the 20 year life of theproject• $8.1 Million in annual nettax revenues to the City ofLA General Fundo $12.3 Million net tax increment& housing set-aside funds for LAover the 20 year life of the projecto $647,000 in annual net taxincrement & housing set asidefunds to LAEconomic Impact Summary
  22. 22. Questions?

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