Jamison is partnering with Arc Capital Partners on the adaptive reuse of 3325 Wilshire Blvd., a 1950s-era office building in Los Angeles’ Koreatown. The 233,000-square-foot property will be redeveloped into 236 apartments and 15,000 square feet of retail. It’s the first time the two Los Angeles-based firms have teamed on a project.
“There simply is not enough housing in Los Angeles to meet the demand, especially in Koreatown, as new residents from other parts of LA see the value in living in a 24/7 live/work/play environment in the heart of the city,” said Jamison CEO Jaime Lee. “We are thrilled to partner with like-minded firms like Arc Capital Partners who understand that the best, most efficient way to bring more units to LA is through breathing new life into underutilized office buildings and turning them into beautiful, desirable and sustainable apartments.”
The 3325 Wilshire project represents Jamison’s 10th office-to-residential conversion. The conversions and Jamison’s ground-up developments have produced more than 6,600 units throughout LA.
Rendering courtesy of Donaldson + Partners.
The most active retail investors, owners, developers, forecasters, managers, brokers, lenders, and others will be at the Luxe Sunset Blvd Hotel for this year’s Connect Retail West conference. Don’t miss the leading retail CRE event happening on Wednesday, Nov. 6 – Be sure to register in advance, registration pricing increases on event day.
