A team of USC real estate graduate students bested their rivals from UCLA to win an urban-planning competition sponsored by the Greater Los Angeles chapter of the National Assn. of Industrial and Office properties.
A panel of real estate experts last week awarded the five-member USC team the trophy for its winning response to the question: "Will the new Staples Center create opportunities for development of pedestrian-oriented retail and commercial space along the Figueroa Corridor?"
After more than three months of research, the USC team's answer was a qualified "Yes." The team said the developer and city must work quickly to build retail development and a hotel and to expand housing in the immediate area for the corridor to fully take advantage of the arena.
The UCLA team also responded "Yes" to the question but said any development must be substantially different from traditional retail centers.
It proposed building a South Park Tech Village where manufacturers could showcase products and emerging technology.