The California Broadway Trade Center on Hill Street (formerly a May Co. department store, among other things) is joining the unstoppable action fanning out around Broadway and Ninth in Downtown—it's got new owners and they're planning a major redevelopment that could bring "offices, a hotel, stores and apartments or condominiums" to the 1.1-million-square-foot space, according to the LA Times. That will be quite a switch-up from the BTC's current use; today it has some retail stalls and upper-floor clothing manufacturing (actual people sewing, not machines). But developers have of course been eyeing the giant and lovely edifice for years. Two years ago there were rumors that the present owners (Shahram and Shahriar Afshani, of the NCT Lofts Downtown) were interested in a hotel/apartments/retail combo, but that idea fizzled and the building went up for sale last summer. The (pending) sale price to Waterbridge Capital is estimated to be between $115 and $130 million (there are no official numbers yet).
The Broadway Trade Center has always had a lot of different uses, housing department stores, the LA Public Library (once on the third floor), a corner in which fainting women could take a load off, and a 1,000-seat theater.
The BTC is just a block away from the new Ace Hotel and is across the street from the restored and repurposed Rialto Theatre (now an Urban Outfitters).
· Former May Co. building in downtown L.A. to get revived after sale [LAT]
· Redevelopment Rumored at Downtown's Huge May Co. Building [Curbed LA]