Six months after purchasing Downtown's Foreman & Clark Building for $52 million, Canadian developer Bonnis Properties is moving forward with plans to convert the late 1920s building into apartments.
Earlier today, the Vancouver-based real estate firm submitted plans to the City of Los Angeles to create approximately 79,000 square feet of residential area on the upper levels of the 13-story structure, with an average unit size of 660 square feet. Plans also call for approximately 8,500 square feet of retail space on the building's ground-floor.
Bonnis acquired the project following two failed attempts at converting the building under its pior owner, who had initially sought to bring apartments to the former office building in 2014. A change of plans in 2015 had called for the building to instead become a hotel, although a tentative agreement eventually fell through.
The Foreman & Clark Building was once an institution in Downtown's pre-war retail scene, opening in 1929 as the headquarters of a defunct department store chain which bore the same name. Foreman & Clark vacated the premises in 1959, after which point the building was folded into the surrounding Jewelry District.
- Downtown's Foreman & Clark Building Gettings Residential Conversion (Urbanize LA)
- ZA-2016-3892-ZAA (LADCP)