The proposed adaptive reuse of a 105-year-old building on Downtown's Broadway corridor is dead, and its now owner is marketing the property as office space.
The seven-story building, located at 950 South Broadway, was completed in 1913 as the first headquarters of what is now known as the Southern California Gas Company. The mid-rise structure has had several occupants since its original tenant vacated the premises in 1937, and was entitled for a conversion into 30 live/work lofts in 2016 by developer Geoff Palmer.
Property records now list the building's owner as an entity called Alatau Capital, LLC - which is based out of Woodland Hills.
A leasing brochure for the project indicates that it offers 34,330 square feet of rentable space on seven above-grade floors and one basement level. The brochure advertises a recent renovation of the property, which offers average floor plates of 4,100 square feet, and secured parking via covenant. Asking rates are listed as $3 per square foot.
The building is located next door to the Broadway Palace apartments, a two-building, 686-unit apartment complex that was recently completed by Palmer. Across the street, developer Barry Shy is in the midst of converting a 1920s office building into residential units, and has received approvals to construct a 15-story apartment tower on an abutting parking lot.
- Historic Broadway Building Going Residential (Urbanize LA)