Earlier this year, New York-based Atlas Capital Group began upgrading a pair of historic buildings in the Downtown Los Angeles into modern offices and retail space.

At the southeast corner of 7th and Olive Streets, crews are currently gutting the interior of the 99-year-old LA Jewelry Mart.  The six-story edifice, built in 1917 as a Villa de Paris department store, features approximately 85,000 square feet of office space on its upper levels and 14,000 square feet of ground-floor commercial space.  Permit filings from the Los Angeles Department of Building and Safety indicate that the building's basement level into a 47-car garage.

An adjacent three-story building at 410-418 W. 7th Street, now known as the International Jewelry Center, was purchased by Atlas Capital late last year for $14.7 million.  According to the developer's website, the building's first two retail floors will be upgraded to white-box condition, while its third-floor roof level will be repurposed for unspecified uses.