Snazzy New Student Housing Coming To USC
By Eric Althoff
LOS ANGELES—Developer Mosaic Investment Partners has hired SVA Architects and general contractor Alpha Construction for work on Tessera, a new residential complex at the University of Southern California’s main campus. The luxurious Tessera will be located just off of the USC campus and convenient to the light rail, shopping and dining.
The ground-up Tessera facility will encompass 75,000 square feet of living space for USC students along Exposition Boulevard. The $56 million project is being financed via joint venture equity and mezzanine financing from HC2 Capital. When completed, Tessera will be the largest community in the Mosaic Investment Partners portfolio as well as the company’s first ground-up project.
Tessera is to be sited between USC’s University Park Campus and the George Lucas Museum of Narrative Art. Just across the street will be the Expo/Vermont Metro E Line station, and the development is within walking distance of Exposition Park and the Los Angeles Memorial Coliseum.
As designed by SVA, Tessera will be a seven-story structure encompassing 53 units for 260 beds in configurations ranging from studio to four-bedroom apartments. The indoor design elements encompass stainless steel appliances and individual HVAC controls. Select apartments will also have balconies.
Amenities will include a rooftop pool and lounge, open-air fitness center, computer and business room, billiards room, fire pits and various other bonuses. In addition to the pool, the rooftop area will feature quiet areas for studying, which students can enjoy amid 360-degree views of downtown Los Angeles, the San Gabriel Mountains, Hollywood and, perhaps on especially clear days, the Pacific Ocean 14 miles to the west.
Working in conjunction with Mosaic, SVA Architects and Alpha Construction are interior and landscape designer Sorensen Architects and project manager Oakwood Development Group. The construction is anticipated to be complete for the spring of 2025.
“Tessera will provide USC students with a unique blend of luxury, convenience, and community,” said George Alva, co-owner of Mosaic Investment Partners. “We brought in an award-winning architect and a high-end design firm that specializes in luxury homes in Malibu and Pacific Palisades to help us create what we expect to be a stunning, world-class building with resort-like common area spaces including a highly amenitized rooftop with a pool, multiple firepits, large outdoor dining area, and a dog park.”
Added Carlos Delherra, co-owner of Mosaic Investment Partners, “The panoramic views of the Hollywood Hills, the downtown skyline, and Expo Park will be unmatched.” Mosaic Investment Partners focuses specifically on the development and renovation of multi-family properties and apartments in and around the USC campus. The firm’s subsidiary Mosaic Student Communities manages properties for third-party owners. For the USC market Mosaic owns over 130 units and manages another 350.