Project: Pan American Lofts
Location: 253 S. Broadway, Los Angeles, CA 90012
Project Size: 40 units
Project Type: For-sale condominiums, adaptive reuse
Project Concept: Pan American Lofts is a 40-unit adaptive reuse condominium loft project located on the corner of 3rd Street and Broadway in the heart of downtown Los Angeles. The building is the second oldest structure in downtown Los Angeles built in 1895 and was originally called the Irvine Byrne Building. The building was built to house in part, the original offices of the James Irvine Company, the namesake for the city of Irvine located in Orange County. This project is a prime example of the adaptive reuse of underutilized building into residential lofts which is a primary product type for Urban Pacific. The new lofts ranged in size from 800 square feet to 1,400 square feet, and include penthouse lofts with internal mezzanines and private roof-top decks. Urban Pacific was successful in securing tax benefits for each buyer by granting a Historic Facade Preservation Easement to the Los Angeles Conservancy to ensure that this unique architectural gem will be preserved. This facade easement was one of the first to be completed in downtown Los Angeles, and one of the few successfully executed in the United States on a for-sale housing community.
Project Status: Completed, all units sold.
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