New Housing on Broadway

ICO Development's new apartment building at 430 S. Broadway.

DOWNTOWN LOS ANGELES - ICO Development, which opened the Historic Core’s Pacific Electric Lofts and Mercantile Lofts, is nearing completion of a third Downtown housing complex: The 1906 Bumiller/Campbell Blake Building, at 430 S. Broadway, has been converted into 58 live/work units.

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It will have studio to three-bedroom apartments ranging from about 325-1,550 square feet. Rents will be approximately $1,250-$3,500. A gym, garden and grill area are on the rooftop deck and the building will contain 19 parking stalls.

There is also a unique original feature: two skylights that bring natural light into the center of the building.

ICO acquired the six-story structure in late 2012 and started construction the following year. The work included a seismic retrofit and the replacement of the plumbing and electrical systems.

The ground floor, which once housed swap meet-style shops, offers 3,500 square feet of retail space; ICO is currently negotiating leases with prospective tenants, said Jacob Jalil, asset manager and vice president for the company.

He said an opening is expected this month, and hopes the building will help propel other renovation projects on the corridor.

“Broadway will not be Broadway again until all these smaller empty buildings are activated as residential, offices, anything,” Jalil said.

© Los Angeles Downtown News 2015