The $450-million project, formerly branded as The Fig, is being developed by the Irvine-based real estate investment firm Ventus Group. Plans call for the construction of a seven-story, podium-type building containing:
- a 252-room hotel;
- 252 student housing units;
- 78 apartments; and
- nearly 96,000 square feet of retail, restaurant, and office space.
A total of 66 apartments would be set aside as deed-restricted affordable housing at the low- and very low-income levels.
AO is designing the project, which is a revised from a slightly larger development approved by the City of Los Angeles in 2019. The smaller scale is the result legal settlement with the West Adams Heritage Association, according to a Ventus Group. While the project originally called for demolishing a series of 1920s apartments fronting the eastern side of the property, the developer agreed to preserve and reuse three of the buildings.
The redesign of the project also allowed for the parking for the hotel and residential uses to be separated into two separate garages. Plans had previously called for a shared garage facing Flower Drive.
However, no hotel or residential uses are planned along the eastern side of the site - adjacent to the I-110 Freeway. Building circulation would front Flower Drive, with amenity decks and other amenities facing Figueroa to the west.
Construction of Exposition Point is currently on pace to begin in late 2021. The project would be completed prior to the start of the school year in 2024.
The development site is located one block south of a smaller mixed-use housing project now under construction at the intersection of Figueroa and 38th Street.
- 3900 S. Figueroa Street (Urbanize LA)