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 Historic Core DTLA
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.

Historic Core DTLA
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 Today
Foreman & Clark Building Today

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 Terrace LA – New 3-Story Townhomes with Views of Downtown Los Angeles

1015 Figueroa Terrace, Los Angeles, CA 90012 #theterrace #figueroaterrace

THE TERRACE FOR SALE   |   FOR LEASE   |   SOLD   |   UNLISTED

The Terrace LA (concept picture)

Downtown Los Angeles  —  To really enjoy all that the big city has to offer, there should be no need to sacrifice comfort, convenience, lifestyle, nature or privacy. Finally, all of those indispensable elements come together for the first time as the area’s newest residences are under construction nestled on the hill between Downtown, Elysian Park, Chinatown and Echo Park.

The Terrace Los Angeles new development is now under construction above Downtown L.A. with views of the skyline and Dodger Stadium in Elysian Park. The developers promise to soon deliver the homes situated high above DTLA, a new gated community that “awakens the senses and inspires movement throughout your day.” Featuring 45, 3-Story townhomes each with stunning views, chic interiors and easy access to work and play, The Terrace is “guaranteed to change on how you live LA,” according to the builder.

OWN A BETTER VIEW AT THE TERRACE

The developer is expected to begin scheduling showings of the new build homes in the coming months. 45 modern town homes from the mid-

Terrace Downtown Los Angeles Rooftop Outdoor Space and Views

$700,000’s with smart 1,700 sq ft floor plans, master walk-in, built-out closets, modern fixtures and finishes, Bosch appliances, private balconies and patios, spacious 3-bedrooms, 2.5 baths, DTLA and Dodger Stadium Views, pet-friendly community.  The development was once thought to include private 2-car garages for each unit, but it looks as though it is actually just a gated community garage. The older condo townhomes at the condo complex next door each have private 2-car garages. Get on the interest list for all of the upcoming new details.

A Better Way of Life?

Taking a look at the construction site, it looks like some units will get the lion’s share of light and views while others will be relatively dark and viewless. Beat out other buyers to the best deals. Get priority access and privileged information on The Terrace and other Downtown developments. Get on the new homes interest list. Fill out the online form:

THE TERRACE FOR SALE   |   FOR LEASE   |   SOLD   |   UNLISTED

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The Terrace DTLA (under construction)

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.