Jamison to Flip More Los Angeles Office Space Into 700 Apartment Units
The developer submitted an application to repurpose a 33-story, 600,000-square-foot office tower
By Greg Cornfield June 21, 2023 1:15 pm
reprints
Jamison Services, which has long been converting offices into housing in Los Angeles, has added another big project to its plans.
The developer submitted an application to flip a 33-story, 600,000-square-foot office tower in Downtown L.A. into a mixed-use property with almost 700 multifamily units and 48,000 square feet of amenities. Urbanize first reported the adaptive reuse project in the face of the downtown office market’s ongoing troubles.
The former ARCO Tower at 1055 Seventh Street, just west of the U.S. 110 Freeway, rises approximately 464 feet, and was completed during the late 1980s office-building boom. L.A. Care Health Plan is vacating the property and moving to a neighboring building in 2024.
Jamison plans to add 691 studio, one-, two- and three-bedroom apartments, ranging from 538 to 1,304 square feet, as well as theaters, fitness rooms, lounges and business centers.
Last month, the same firm filed plans to convert a 17-story office near Beverly Hills into an apartment property with 210 units, and also to flip a 1970s office with 95,000 square feet between Koreatown and Westlake into 141 units.
City officials are working to expand adaptive reuse rules to enable more conversions of empty commercial buildings. A proposed update would expand the rule to include all buildings completed before 2008, as well as buildings between 5 and 15 years old with zoning approval. State lawmakers are also working on legislation to make such conversions faster and less expensive.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
