[Image via Wikimedia Commons]
Another intriguing historical building is going mixed-use Downtown: the 1929Foreman & Clark building on Seventh and Hill Streets is set to transform into a residential building with a bar and restaurants. Building LA spotted the adaptive reuse plans for the 13-story building, which were submitted to the city at the end of May and call for 165 residential units, plus two restaurants and a bar. The building’s second through fourth floors were once the “flagship” store for men’s clothing store Foreman & Clark, and the building was designed by Curlett & Beelman Architects, whose other works include the Park Plaza Hotel and the Barker Brothers building.
The exterior of the Foreman & Clark building in a photo dated 1949. [Image via Los Angeles Public Library Photo Collection]
Inside the showroom of the Foreman & Clark Building in a 1935 photo. [Image via Los Angeles Public Library Photo Collection]
Stores were known for their “distinctive” second story locations and their big, fancy display windows, which can still be seen today. Just about a block down, the Broadway Trade Center has plans for its own mixed-use reboot that could include offices, a hotel, stores and residential. Is Broadway coming back so strong that it’s spreading to Hill Street?
Millennials vs. Baby Boomers: What They Want in Their Homes
Millennials aren’t the only ones flocking to popular cities such as New York, Boston, Miami and San Francisco. Some boomers are, too. After all, they want the theater, arts, culture and fine dining! The difference is that millennials, if they’re not still living with mom and dad, are moving into expensive rental units. An analysis that Zillow recently conducted for The New York Times showed that in 90 cities, the median rent is more than 30 percent of the median gross income. Meanwhile, some well-heeled boomers — eager for a lifestyle change — are buying smaller, yet more expensive homes than the ones where they raised their families in the suburbs. How’s that for downsizing?
[This is a picture is from Nelson Shelton & Associates Beverly Hills]
Vera Gibbons is a financial journalist based in New York City and is a contributor to Zillow Blog. Connect with her at http://veragibbons.com/.