Note: A representative of the developer has notified us that SB Tower is not being converted into condominiums. The plans filed with the City of Los Angeles were to extend the sunset provision of previously approved entitlements. We regret the error.
Nearly three years after being rebuffed in his attempt to convert two Historic Core buildings into condominiums, developer Barry Shy will hope for better luck with another of his numerous Downtown properties.
Yesterday, Shy filed plans with the City of Los Angeles to convert SB Tower into for-sale housing. The early 1960s building, located at 600 S. Spring Street, currently features 300 apartments above street-level retail space. Following its condominium conversion, that total would be reduced to 256 residential units, in addition to 13 commercial stalls.
A timeline for the project is currently unclear.
The 20-story structure, formerly the offices of United California Bank, was the first high-rise building completed in Los Angeles following the repeal of the city's longtime height limits in 1956.
Shy has also announced plans for a 38-story tower on an adjacent parking lot, one three ground-up development he has proposed in the Historic Core.
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