The adaptive reuse ordinance—which made it easier for developers to turn beautiful-but-underused Downtown buildings into apartment and condo buildings—is credited for the neighborhood's major revitalization over the past decade, so this past December the city realized it should finally do the same thing for commercial space, particularly on Broadway, where gorgeous historic buildings sit mostly unused above groundlevel. The Historic Commercial Reuse Initiative kicked off with a pilot program on the street and now it debuts its first transformation: the Broadway Arts Tower, "sister to the Spring Arts Tower," will be the first creative office tower to open on Broadway in more than 80 years come next month, according to a statement a statement from its developers. (The iconic Eastern Columbia was the last office tower to open on the stretch, back in 1930; it's now been converted to fancy housing.)
The former Schulte United building on Broadway, between Fifth and Sixth Streets, was once a department store with a 125-seat cafeteria inside; now, the 1928 structure has ceilings up to 40 feet high and a glass "light tunnel" going through each floor. The five-story building's original "grand staircase with bronze inlays and brass handrails, brickwork, and hardwood floors" have all been saved and incorporated. Unfortunately, there aren't any leasing prices listed on the building's site yet.
· 529 Broadway Press Release [Official Site]
· City Making It Easier To Convert Broadway's Historic Buildings Into Office Space [Curbed LA]