1055 W. 7th Street

"Just west of the US-110 Freeway stands a 33-story, approximately 600,000-square-foot office tower completed during the late 1980s office boom. While the building was once named ARCO Tower for the oil and gas company that once called it home, the property has gone by 1055 7th Street since the departure of its namesake tenant more than two decades ago. It most recently housed offices for Los Angeles County's L.A. Care health plan, which will be relocating into a 370,000-square-foot space at a neighboring building in 2024.

Landlord Jamison Services, Inc., faced with the daunting task of leasing a large high-rise in an era where such buildings have fallen out of vogue, will instead pivot. The Koreatown-based firm has submitted an application to the L.A. Department of City Planning seeking approvals to convert the upper floors of 1055 7th Street into housing. Plans call for a total of 691 studio, one-, two-, and three-bedroom apartments, ranging from 538 to 1,304 square feet in size, as well as nearly 48,000 square feet of amenities such as theaters, fitness rooms, lounges, and business centers.

The proposed project, as an adaptive reuse development, is not required to incorporate affordable housing. Likewise, no additional parking is required for 1055 7th Street, which is already served by adjacent garage with capacity for more than 1,100 vehicles."

-SOURCE: URBANIZE L.A.

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