At a ceremony late last month, Silverstein Properties marked the completion of a $60-million, two-year renovation of the U.S. Bank Tower - the city's second tallest skyscraper.
View of the U.S. Bank Tower from 5th StreetGary Leonard
“The U.S. Bank Tower is a landmark in Downtown Los Angeles,” said Larry A. Silverstein, Chairman of Silverstein Properties in a statement. “We have reimagined the building with spaces and amenities that reflect the new way of working. We want to ensure it remains a beacon of the business district, and also contributes more broadly to a thriving downtown – one of the best places in LA to work, live, and visit.”
The project, designed by Jeffrey Beers and architecture firm A + I, included upgrades to approximately 35,000 square feet of common spaces within the high-rise, including a retooled main entrance and lobby the addition of a juice and cocktail bar and a grab-and-go market.
The 54th floor of the tower has been converted into "The Vista," an amenity space for tenants, which also doubles as a space for events and meetings. The decorations of the The Vista include items such as movie cameras and projectors, film noir posters, and books and gifts from the Central Library across the street.
View of The VistaGary Leonard
While the post-pandemic era has been rough on office landlords - with the Downtown submarket being hit especially hard - the U.S. Bank Tower has seen some bright spots in the past calendar years. In November 2022, Silverstein announced five leases totaling 72,000 square feet of space to a mix of engineering, legal, consulting, and investment firms.
The ceremony included an appearance from L.A.-based artist Man One, who was commissioned by Silverstein Properties to create an original work as part of an installation on the top floor of the building last year. Man One also curated a series murals which wrapped the building's 5th Street frontage during the course of construction, which have since been relocated to the tower's 61st floor.
New York-based Silverstein Properties, best known as the developer of the World Trade Center complex, acquired the U.S. Bank Tower in 2020 for $430 million from OUE, Ltd., which reportedly sold the property at a 34 percent discount from what the building was valued at prior to the onset of the pandemic. OUE had undertaken its own renovation of the supertall skyscraper, once the city's tallest building, which included the addition of a 70th floor observation deck replete with a glass slide. That installation has since been removed.
Ribbon-cutting ceremony for the U.S. Bank TowerGary Leonard
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