Foreman and Clark Building Downtown Los Angeles Residential Real Estate Mills Act New Lofts

701 Hill Street, Los Angeles, CA 90014

NEW LOFTS DOWNTOWN LOS ANGELES – Plans have changed several times regarding the renovation of the Downtown LA Jewelry District’s historic Foreman and Clark building into new lofts for sale or for lease.  #foremanclark #millsact

Foreman & Clark Building Today
Foreman & Clark Building Today

REAL ESTATE NEWS – The developer had previously planned to create a mixed-use conversion and and/or a hotel. New homes: The latest construction plans filed with the City of Los Angeles planning department state that the Canadian developer Bonnis Properties intends to convert the 1929 building into residential use with 8,500 square feet of retail space on the ground floor.  It is not clear yet if the new lofts will be for sale or for lease, but making loft apartments for lease is more likely based on what most other developers have decided to do recently. They are making a pretty penny on the high rents, and the big developers obviously believe that rents will continue their upward trajectory for loft conversion rentals. Prospective home owners can get onto the New Homes Interest List at no cost.

The 13 story historic Foreman and Clark building at 7th and Hill Streets was originally designed by Curlett & Beelman Architects.  The structure was once home to the flagship store for men’s clothing retailer Foreman and Clark on its second through fourth floors. The clothier moved out of this location in the 1960s.

The Art Deco Gothic building is a city Historic-Cultural Landmark for its architectural elements, and because it exemplified the expansion of the early Broadway shopping district according to its application for landmark status.

A bar and restaurants may or may not be the anchors of the future renovation, depending on who you ask and when.  We have also been told that it is actually 165 units that are slated to be created for residential use.

Historic Core Downtown Los Angeles
Historic Core DTLA

It is also said that the developer intends to fill out the 1920s Foreman and Clark building with 124 market-rate apartments (meaning none will be set aside for low-income tenants), with sizes ranging from 470 to 1,075 square feet. The loft redevelopment will also include two penthouses, which will be converted from space that was historically used as mechanical rooms. Hopefully the developer will keep . The penthouses measure about 1,300 and 2,600 square feet, respectively, with the larger penthouse being a prized two-story luxury condominium unit.

The Foreman and Clark building, which sits at the corner of 7th and Hill streets, is rectangular for the first four floors, but then it splits into a U-shaped structure, meaning that on top of the 4th floor, there is open space to be made into communal space for residents.

There will be no parking on site. The building’s never had parking, says Bartolo, and there are no plans to add any.

Bonnis is applying tax credits under the Mills Act right now and also seeking permits. Construction is scheduled to start some time in the next 12 to 15 months. The architect is Los Angeles-based OKB Architects.

Save on property taxes by owning a Mills Act historic building loft condominiums. Get Mills Act properties free list and information in your email. Fill out the online form:

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Foreman Clark Building Historic Core DTLA
Foreman Clark Building Historic Core DTLA

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

The Grove Style Shopping AT MATEO Downtown Los Angeles Arts District

AT MATEO – 551 Mateo Street, Los Angeles, CA 90013

DTLA is growing at a head-spinning pace, and the Arts District is the epicenter of much of that new construction. A new, mini “The Grove” style commercial shopping and dining center development is well under way across the street from Molino Lofts and Barker Block Lofts Warehouse 1.

Arts District  |  For Sale  |  For Lease

at-mateo-shopping-center-facade.png

From the vineyards and citrus groves of the 19th century emerges:
AT MATEO.

The developer has announced The Arts Districts’ preeminent destination for shopping, dining and gathering. What is looking like it till be kind of a “The Grove Jr” will bring a substantial shopping, dining and entertainment center.

Under construction in the east edge of Downtown L.A., near the Los Angeles River and three major arterial freeways, the Los Angeles Arts District has evolved into one of the country’s most talked about, imaginative, authentic and upscale urban neighborhoods. This small area of historical brick, concrete and wood beamed industrial warehouses and manufacturing plants is enhanced by the colorful character of local artist murals and converted historic industrial buildings.

Upon completion, AT MATEO promises to become the social epicenter of the Arts District, providing locals and visitors with artisan eateries and drinking establishments, fashion-forward retailers and local services that complement the avant garde and sophisticated culture of this exciting neighborhood.

The developer is credited with utilizing existing portions of the existing historic architecture in creating the authentic look for the new center.

Arts District  |  For Sale  |  For Lease

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