Two years after we last checked in, construction continues for the renovation of the 105-year-old Merritt Building in Downtown Los Angeles.
The nine-story building, located at the northwest corner of 8th Street and Broadway, was built in 1915 by railroad magnate Hulett C. Merritt. The mid-rise structure is known for its exterior columns and white marble finish.
Bonnis Properties, a Vancouver-based real estate investment firm, acquired the Merritt Building in 2016 for approximately $24 million, and shortly thereafter commenced work on a project which would restore the property to its original appearance.
The renovation, designed by OKB Architecture, retains 6,000 square feet of retail space located on the ground-floor and basement. Its upper floors, vacant since the 1980s, will offer 40,000 square feet of rentable space upon completion.
Plans also call for converting a previously unused rooftop space into an amenity deck, which would be coupled with interior features such as a gym and a lounge.
In addition to the Merritt Building, several neighboring historic properties are also in the midst of a restoration, including the Tower Theatre - which is being transformed into an Apple Store - and the Garland - which will contain offices for rent.
Bonnis Properties is also planning the adaptive reuse of the historic Foreman & Clark Building, located at the intersection of 7th and Hill Streets.
- Merritt Building (Urbanize LA)