Posted: Dec 11, 2012 2:34 PM by The Associated Press
LOS ANGELES (AP) - The Los Angeles City Council has granted unanimous approval to a proposed $1.1 billion overhaul of an aging shopping center that sits adjacent to the University of Southern California campus.
Following Tuesday's vote, USC, which owns the property, said it hopes to break ground by the end of next year.
The project is to be built in stages and completed by 2030.
It is to include such community amenities as sit-down restaurants, a supermarket, movie theater, hotel and upscale shops.
Plans also call for new academic buildings, several acres of open space and housing to accommodate hundreds of students.
When completed, officials expect the development, to be called the Village at USC, to bring 8,000 permanent new jobs to the modest but rapidly gentrifying community.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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