BANK LOFTS

CITY OF LOS ANGELES, CA
San Pedro, California

LOCATION
407 W. 7th Street and 390 W. 8th Street
San Pedro, California

PROJECT SIZE
89 units on 1.4 acres averaging
62 units per acre

click here for Bank Lofts Website

PROJECT CONCEPT
The Bank Lofts project is an 89-unit, for sale condominium project in two buildings comprised of four stories of residential and commercial uses over semi-subterranean parking. The project consists of a combination of adaptive reuse of an existing bank building, and new construction on three additional parcels currently utilized for surface parking. The existing bank building will be retrofitted with 5,000 square feet of ground floor commercial uses, with flats on the second floor, and new two-story loft-style penthouses constructed on the roof. The new residential loft condominiums will be constructed on the surface parking lots on either side of the existing bank (Building “A”), as well as on a vacant parcel across the street at 8th and Mesa (Building “B”). Those two wings will have semi-subterranean podium-style parking garages, with four stories of residential development.

Current Status:	Under Construction
Target Completion Date:	March '06 (Bldg. B) July '06 (Bldg. A)
Architect:	KTGY Group Irvine, California
Financial Status:	All project financing is in place.
Source of Project Financing:	San Pedro Loft Partners LLC 244 Pine Avenue Long Beach, CA 90802 (562) 590-5600 Attn: Mr. Mark F. Tolley
Project Cost:	$23,000,000

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