LOS ANGELES-Urban investment specialist CityView has entered the student housing market as construction begins on a market-rate student housing project called West 27th Place adjacent to the University of Southern California. The project, which is being built by Los Angeles based Symphony Development, is aiming for LEED Gold certification, according to Sean Burton, president and CEO of CityView.

“If certified, West 27th Place will be the first and only LEED-certified, amenity-rich student housing option at USC,” Burton said in a prepared statement. Scheduled for completion in Summer 2011 in anticipation of a fall 2011 academic year, the development consists of 161 units (410 beds) designed for both individual lease and roommate matching. The unit breakdown includes 60 studio units, 44 one-bedroom units, 42 two-bedroom units and 15 four-bedroom units.

West 27th Place sits on approximately 1.03 acres of land adjacent to the USC campus. The project includes approximately 22,000 square feet of street-facing retail space and 183 parking spaces. Property amenities include a swimming pool, sun deck, fitness center, study rooms and on-site management office.

Henry Cisneros, founder and executive chairman of CityView, points out that West 27th will meet current and future demand for high-quality student housing at the university. Atlanta, GA-based Place Properties has been retained to spearhead lease-up and property management services.

Cisneros, who was secretary of the US Department of Housing and Urban Development in President Bill Clinton's administration, founded CityView in 2000. Headquartered in Los Angeles with offices in New York, Dallas and San Antonio, the company has invested in and developed more than $2 billion in real estate assets since 2003.