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The Real Deal Los Angeles

Urban Offerings plans creative rehab for 100-year-old building

Developer bought it for $17.55M last September
February 22, 2017 11:43AM

Renderings of the project at 755 South Los Angeles Street (Credit: DLANC)

Another storied Downtown Los Angeles building could get the creative office treatment.

L.A. developer Urban Offerings wants to redevelop part of the Norton Building in the Historic Core, a five-story structure that it acquired for $17.55 million in September, property records show.

Urban Offerings will partner with Van Nuys-based investor ESI Ventures for the project at 755 South Los Angeles Street, Urbanize reported from a presentation submitted to the Downtown Los Angeles Neighborhood Council’s Planning and Land Use Committee.

The project would bring  60,000 square feet of offices and about 43,0000 square feet of retail and restaurants to the century-old structure. Roof space would be used, as would a penthouse structure.

Calmwater Capital helped Urban Offerings finance the deal with a $25.2 million loan. [Urbanize]Cathaleen Chen