Los Angeles-based real estate investment firm Bow West Capital has started construction at 718-722 S. Hill Street, a historic Jewelry District building that will be converted into office space.

The property, located mid-block between 7th and 8th Streets, was purchased by Bow West late last year for $14-million.  Plans call for converting the upper floors of the seven-story structure into approximately 55,000 square feet of office space, with an art gallery located at the mezzanine level and commercial space on the ground floor.

Los Angeles-based M-Rad Architecture is designing the project.

Constructed in 1913, 718-722 S. Hill Street is located in close proximity to similar historic structures that are also being converted into office space - including the Merritt Building and the former Broadway Trade Center at 8th and Broadway.