Mills Act Los Angeles

Discover the Charm and Beauty of Historic L.A. with Mills Act Lofts
An affordable, emotional connection to the past and the future of Los Angeles

REAL ESTATE NEWS — Downtown Los Angeles, Hollywood, Pasadena and Santa Monica have evolved into luxurious neighborhoods with sky-high property prices, making it challenging for prospective homebuyers to find their dream loft. However, hope is not lost, as the Mills Act lofts in L.A. offer an opportunity to embrace the historic charm of the area while enjoying property tax benefits that make homeownership more attainable. #millsact #losangeles #lofts

The Mills Act is an economic incentive program that helps private homeowners, including loft condominium unit owners in California, with the restoration and preservation of qualified historic buildings. Administered by the City of Los Angeles, the Mills Act contracts are agreements between property owners (or HOAs for condo buildings) and the city and county government, granting tax abatement to preserve the heritage of Los Angeles.

This program not only brings economic benefits to the city and its neighborhoods but also plays an essential role in revitalizing older areas, fostering pride of ownership, and retaining a sense of place and continuity with the community’s past. By contributing to affordable housing, promoting heritage tourism, and encouraging seismic safety programs, the Mills Act bridges the gap between history and progress in L.A.

As each local government establishes its criteria and determines the number of contracts allowed in their jurisdiction, the benefits and obligations of the Mills Act homeowners vary. However, the State Board of Equalization has provided guidelines for county assessors to use when assessing properties under the Mills Act. The City of Los Angeles also offers a comprehensive website with details about the program.

Mills Act contracts are initially for ten years, with automatic yearly extensions, and they stay with the property when transferred. Subsequent owners are bound by the contract and have the same rights and obligations as the original owner who entered into the agreement.

For those interested in becoming real experts on the Mills Act, the L.A. Loft Blog team sponsors special events, including the Mills Act Program and Workshop. The workshop provides an overview of the Mills Act Historical Property Contract Program and details about the City of Los Angeles’ application process for the next year. The Office of Historic Resources also holds an annual Mills Act Workshop, where all prospective applicants and those interested in learning more about the program are invited to attend.

The Mills Act program offers property tax relief that can dramatically defray costs to rehabilitate and maintain the historical and architectural character of L.A. properties for at least a ten-year period, which usually gets renewed. Participants may realize substantial property tax savings of between 40% and 60% each year for newly improved or purchased older properties.

As you embark on this exciting journey of homeownership in L.A., consider exploring Mills Act lofts for sale to find the perfect blend of affordability, history, and elegance. With the potential for significant property tax savings and the unparalleled charm of living in a historic building, you can experience the best of both worlds in the heart of the city.

Embrace the allure of the past while looking forward to a bright future in the vibrant and diverse Los Angeles community. With Mills Act lofts, you can proudly call a piece of L.A. history your home while benefiting from the economic incentives that come with preserving these architectural treasures.

Don’t miss out on this opportunity to be part of the ongoing story of Los Angeles – start your search for a Mills Act loft today. Get a free list of Mills Act lofts and take the first step towards owning a piece of the city’s captivating history. Fill out the online form:

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.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.

Eastern Columbia Building Renovation and Special Assessment Update

849 S Broadway, Los Angeles, CA 90014

REAL ESTATE NEWS (Los Angeles, CA) — The Eastern Columbia Building is an architectural masterpiece that has served as a landmark in Los Angeles for over nine decades. Built in 1930 as a retail store and later used as office space, the building has been listed as a historical landmark since 1985. In 2006, it was renovated and converted into 147 condominiums for sale by the Kor Group. The commercial units and parking garage were retained by the Kor Group and sold to Coast. The building began participating in the Mills Act Historic Contracts Program. In recent years, the building has undergone extensive renovations and restoration, including repairs and restoration of its brilliant blue terracotta exterior surface tile facade. | FOR SALE | FOR LEASE

The Eastern Columbia Building’s terra cotta tiles are a unique feature that has become synonymous with the building’s iconic design. The tiles were designed not only for decorative purposes but also as a structural element and waterproofing. Each terra cotta unit weighs approximately 200 pounds and is designed not to crack. The terra cotta masonry is an important component of the building’s structural integrity and must be maintained, repaired, and replaced regularly.

Wiss, Janney Elstner Associates (WJE) was hired in 2018 to test and evaluate the terra cotta tiles. The testing and evaluation process included a visual condition assessment, multi-year moisture analysis and instrumentation, in-situ testing of existing glaze, and the design and specification of repairs and restoration. WJE prequalified contractors for the highly specialized work, which required extraordinary coordination for City approvals and safety measures. Seven bids were requested, and four contractors provided bids and were interviewed. Two finalists were re-interviewed in September 2021, and Mark 1 Restoration was chosen for their expertise and competitive pricing.

WJE’s testing and evaluation found that various generations and colors of repointing mortar were present in the joints between terra cotta units. Repointing mortar is typically visually lighter and whiter in color than what is assumed to be the original mortar, which is green in color. The glaze at the spall is debonded and blistered and can be pulled away by hand. Temperature and moisture monitors were installed at the clock tower to perform a 12+ month monitoring of potential moisture migration, drying, and vapor transmission through the masonry. WJE installed eight wireless sensors that recorded temperature and relative humidity (RH) at the north, south, east, and west clock tower facades to determine whether differences in temperature and RH exist between corresponding interior and exterior sides of the facades and between different facades.

Laboratory analysis involved the characterization of existing patching mortars and terra cotta mortars. Thirteen sample fragments were analyzed using microscopy that included terra cotta repair mortars and masonry mortars. ASTM C856 Standard Practice for Petrographic Examination was used as a guideline for laboratory material characterization, and scanning electron microscopy (SEM) was utilized to detect types of mortar constituents within the patch compounds and mortars.

The construction drawings and specifications involved the pre-approval/selection of the contractor, competitive bidding by four entities, detailed bid review and interviews, detail negotiation, and contractor selection. The terra cotta glaze adhesion testing involved all four elevations of the clock tower tested at six representative locations at both vertical and horizontal surfaces of terra cotta glaze surfaces. A direct tensile load was applied using the instrumentation using uniformly increasing rate until the glaze failure. Glaze adhesion tests were noted to have pull-ff strengths resulting between a minimum of 377 psi and a maximum adhesion strength of up to 460 psi – all within close range of the other.

Now that the contractor has been chosen, the project is moving forward with the actual restoration work. The renovation process will include the inspection and repair of each individual tile, which will require extraordinary coordination for City approvals and safety measures. The renovation work will also involve the removal of the current sealant, repair of any broken tiles, and replacement of the sealant. Once the restoration is complete, the building will be resealed with a new sealant, which will help protect the terracotta facade from the elements.

In addition to the restoration work, the project will also involve the installation of a new lightning protection system. This system will help protect the building from lightning strikes and ensure that the residents and tenants inside are safe from harm. The lightning protection system will also help prevent damage to the terracotta facade in the event of a lightning strike.

While the renovation work is underway, the Eastern Columbia Building will remain open and operational. The residents and tenants of the building will still have access to their units and offices, and the building’s retail spaces will remain open for business. However, there may be some temporary disruptions during the renovation process, such as closures of certain areas of the building or temporary changes to the building’s entrance or exit points.

The renovation of the Eastern Columbia Building is an important project that will help preserve this historic landmark for generations to come. The building has been an iconic part of the Los Angeles skyline for over 90 years, and its beautiful terracotta facade is a testament to the architectural and design skills of its creators. The restoration of this facade is crucial not just for its aesthetic value, but also for the building’s structural integrity and waterproofing.

The Eastern Columbia Building has a rich history, and its renovation is a reminder of the importance of preserving our past for the future. The building’s transformation from a department store to condominiums is a testament to the resilience and adaptability of historic buildings. Through the Mills Act Historic Contracts Program, the building has been able to receive tax benefits for its historic preservation, which has helped ensure its longevity.

The selection of Mark 1 Restoration as the contractor for the project is a testament to the company’s expertise and experience in working with historic buildings. With the restoration work set to begin, we can look forward to seeing the Eastern Columbia Building restored to its former glory, and continuing to be an important part of the Los Angeles skyline.

Realtor® Tim Thompson represents the landlord of Penthouse 1, a top floor two-story unit currently for lease, formerly owned by A-list celebrity Johnny Depp. Tim reminds all that rental tenants can enjoy the Eastern Columbia without worrying about HOA dues or special assessments, because the landlords take care of those costs.

Entailing tremendous labor, technical knowhow and artistic ability, the exact total cost of the immense project is unknown, but expected to be around $4.5 million. To pay for the project, the HOA Home Owners Association had to approved a special assessment that must be paid by each home owner, averaging approximately $30,000 per unit. Prospective home buyers of Eastern Columbia should ask to ensure that the home seller will pay all or part of the assessment so that prospective buyers will not be strapped for an unanticipated expense. More at www.EasternColumbiaLoft.com

Get a free list of live/work lofts in Downtown Los Angeles. Fill out the online form:

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Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

Find lofts for sale and for lease at www.EasternColumbiaLoft.com

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.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.