The historic headquarters for the Los Angeles Times, monumental buildings built in the ‘30s and ‘40s, will soon stand next to two brand-new luxury residential towers, the newspaper reported.
Located in what was formerly known as the Times Mirror Square (now the Downtown Civic Center), the Times property at 202 W. First St. was purchased in September for over $100 million by Onni Group.
The Canadian developer has revealed its plans to restore the iconic buildings and to build two 37- and 53-story high-rise towers, with more than 1,200 apartments, next to them.
The project will be designed by L.A.-based architecture firm AC Martin, with a walkway between First and Second streets to divide the new towers from the refurbished, Art Deco-style buildings.
Restaurant and retail venues will be located on the ground floors of all the buildings. Along Broadway, a parking structure and office buildings from the Times will be demolished.
The newspaper company currently has its lease until 2018, with two consecutive, five-year options for renewal, according to a source credited by the Times. There are no stated plans to relocate the newspaper’s headquarters, said a spokesperson for the newspaper’s owner, Tronc Inc.
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