A mid-rise office tower near the L.A. waterfront in Downtown San Pedro is going residential, reports the Daily Breeze.

A $17.5-million loan from BH3 Management and F2 Capital to Forbix and Urban Stearns will go towards the adaptive reuse of the Topaz tower, a 12-story, 294,000-square-foot office building located at 222 W. 6th Street. Plans call for 244 apartments, ranging from studios to wo-bedroom units, as well as a rooftop deck with a pool. An existing parking garage would be retained to serve future residents.

Rendering of Topaz Building after residential conversionSteinberg Hart

The project is reportedly on track for completion in 2025.

According to the Daily Breeze, the Topaz Building opened in 1990 as offices for defense contractor Logicon, and later Northrop Grumman, which acquired the property in 1997.  After Northrop left the building 15 years later, it sat mostly vacant for two years until being purchased by Jupiter Holdings for $21.5 million in 2014. Harbor Associates, which sold the building last year, was the first to plan for an adaptive reuse of the mid-rise tower, with design work by Steinberg Hart.

222 W. 6th StreetGoogle Maps

The project is surrounded by a number of new ground-up residential developments, including under-construction and completed projects from Trammell Crow and Holland Partner Group, as well as a planned complex from Genton Cockrum Partners. Altogether, more than 1,000 new apartments are in the works nearby.

It also sits a short walk from the West Harbor development, now under construction directly on the waterfront.

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