New Lofts – Page 9 – LA Loft Blog

The Los Angeles Times newspaper has recently reported that Downtown Los Angeles hasn’t seen this much construction since the 1920s. 42 developments of at least 50,000 square feet have been built since 2010, according to real estate data firm CoStar. #newhomes #dtla

Downtown Los Angeles New Construction Homes

At Wilshire and Figueroa in Downtown L.A., builders are wrapping up construction of the Wilshire Grand, the tallest building in the West. Created by Korean Air, the skyscraper zooms 1,100 feet high. It consists of a hotel, offices and an observation deck.

A couple blocks away, developer Greenland of China has complete the first condominium building and separate hotel building of its new Metropolis complex, a $1-billion development with 350 hotel rooms and more than 1,500 condo units. River House new condominiums on the Los Angeles River just sold out, and several other new developments, including traditional, townhouse style condos and single family residence houses for sale are under way by the river, as wells as new luxury tower high-rise condominium buildings throughout the Downtown Los Angeles area.

Downtown is changing with tremendous excitement, and along with it, the minds of previous naysayers. Those who only remembered Downtown for its 1980s blight are stunned when they see the vibrant new DTLA. With all of these new homes and infrastructure being built, the Downtown Los Angeles boom is creating more believers than ever before. Get a free list of new homes for sale and new builds under construction in the Downtown Los Angeles area. Fill out the online form:

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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.

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 Historic Core DTLA

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.

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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