Real Estate Law Society Hosts expert Kristina Raspe
Story by Kelsey Schreiberg
Photos by Maria Iacobo
USC law students got a behind-the-scenes look at the intricacies and challenges involved in large-scale real estate development earlier this week. Kristina Raspe, vice president of Real Estate Development and Asset Management at USC, joined students for a discussion about USC’s current real estate expansion projects.
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| Kristina Raspe |
The event was hosted by the Real Estate Law Society, an organization that provides students with networking opportunities, professional development advice and exposure to leaders in the Los Angeles real estate market.
Raspe graduated from Loyola Law School at the age of 22 and went on to become a partner at Troy & Gould and a senior associate at Alschuler, Grossman & Pines, LLP. She was hired by USC in 2006, and currently oversees building development on both the USC University Park Campus and USC Health Sciences campus.
USC’s housing, transportation, and sustainability renovation efforts are part of the university’s first substantial update since the 1960’s. A key component to this project is The Village at USC, a 350,000 square foot development that will include additional student housing and retail space.
“The goal is to fix the current displacement of students by offering reduced rates that draw them back to campus,” Raspe said.
Architects have designed the complex in an Italian Romanesque style to ensure it remains consistent with the rest of the university branded environment.
“We are focusing on attracting ‘mom and pop’ stores that represent quintessential USC, not the mall from the down the street,” she explained.
Large-scale building developments such as The Village at USC are expected to have a positive impact on the local economy: the project is set to create 12,000 jobs and will have a $1.1 billion economic impact on the regional Los Angeles economy. Raspe and her associates continue to work carefully with local residents to preserve a positive relationship between the community and university.
“Basic supply and demand indicate that the cost to rent an apartment will fall in the surrounding neighborhood,” Raspe said. “We have held over 100 community meetings, and overall, neighbors are supportive of the development.”
In addition to her position at USC, Raspe co-chairs the Los Angeles Economic Development Corporation’s Healthcare Subcommittee, is an advisory board member of the Urban Land Institute- Los Angeles, and serves as vice president of Design-Build Institute of America-Western Pacific Region. She received the Visionary Leadership award from the Asian American Architects/Engineers association last month.
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