President Nikias and Councilwoman Jan Perry attended the signing ceremony Wednesday morning near campus.
The proposed makeover of USC's University Village includes agreements to use local vendors.
Not everyone agrees that the benefits of the new University Village complex outweigh its consequences.
USC is spearheading one of the largest redevelopment projects LA has seen in decades - but not everyone is excited...
The University Village is getting a major face lift to include more shops, restaurants and campus housing.