Loft project turns La Opinion news room into bedrooms.THE former offices of Spanish-language newspaper La Opinion in the Title Guarantee building near Pershing Square are being converted into loft apartments. Dan Swartz Daniel S. Swartz (born December 23, 1934 in Owingsville, Kentucky) is a retired American basketball player. A 6'4" forward from Morehead State University, Swartz played one season (1962-63) in the National Basketball Association as a member of the Boston Celtics. , managing partner of the 75-year-old building's ownership group, said the structure at 411 Filth St. will be converted into residential apartments under the city's Adaptive Reuse Adaptive reuse is the process of adapting old structures for new purposes. When the original use of a structure changes or is no longer required, as with older buildings from the industrial revolution, architects have the opportunity to change the primary function of the Ordinance A law, statute, or regulation enacted by a Municipal Corporation. An ordinance is a law passed by a municipal government. A municipality, such as a city, town, village, or borough, is a political subdivision of a state within which a municipal corporation has been , which has sparked a spate of conversions of downtown office buildings into apartments and condominiums. Plans call for the building to be split into 74 lofts ranging from 800 square feet to 1,400 square feet and four penthouse penthouse Enclosed area on top of a building. A penthouse can be an apartment on the roof or top floor of a building or a structure on the roof housing the top of an elevator shaft, air-conditioning equipment, or stairs leading to the roof. units as large as 4,000 square feet. Monthly rents for the regular units would range between $1,600 and $3,500 and the largest penthouse could fetch nearly $9,000. Conversion will cost between $12 million and $14 million. "Basically everything has to be brand new," Swartz said. "Almost nothing can be saved." The building will be seismically retrofitted and its basement This article is about the section of a building. For the foundation, see Basement rock. A basement is one or more floors of a building that are either completely or partially below the ground floor. Slab-on-grade buildings do not have basements. and part of the ground floor will be converted into a parking garage with 115 spaces. Swartz, who said he intends to move into one of the penthouses, was a minority investor in 411 Associates LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the group that owned the 100,000-square-foot building since buying it in 1983 for $9 million. When La Opinion decided to move its operations to the MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. Building, Swartz bought out his partners and teamed up with Philadelphia-based Lubert-Adler Partners to convert the building. The new partnership, Title Guarantee Building LLC, closed on the building on June 30. Swartz said it cost about $10 million to buy out his partners. "As an office building, we were going to have a hard time finding quality tenants," Swartz said. "Because of the renaissance going on downtown, turning residential made much more sense." Staff reporter Andy Fixmer can be reached at (323) 549-5225, ext. 263, or at afixmer@labusinessjournal.com. |
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