Adaptive re-use
From WikiCover
Announced July 27, 2007, The Textile Building, one of seven historic buildings being developed into downtown loft homes by MJW Investments, has sold its final unit, becoming the first adaptive reuse building in the Fashion District to sell out.
The Textile Building is part of Santee Village, a community of seven buildings being developed in the Fashion District by MJW. Santee Village is currently selling loft homes in three additional buildings, The Santee, The Eckardt and the Cornell. These three buildings offer an additional 216 live/work loft homes ranging in size from approximately 700-square-foot open floor plans to a 2,000-square-foot penthouse, starting from the low $300,000's to $1.3 million.
Included within Santee Village is Santee Courtyard, a block-long, landscaped central courtyard and retail center. Santee Courtyard features restaurants offering an eclectic mix of foods from around the world as well as a market and drugstore, all flanking a large fountain and planters brimming with lush tropical plants.
Restaurants and retail outlets include Jerry's Mexican Grill, Enerjuicer Cafe, Asia Cafe, Pizza Hut Wing Street, Mediterranean Fresh Kabob Restaurant, Saya Peruvian Restaurant, Subway, Rite-Aid/Pharmacy and Joe's Market.
Designed by Florence Casler in 1923 and built in 1926, the 12-story Textile Building is located at 315 E. 8th St. in Los Angeles, 90014. A total of 64 units were sold, ranging in size from 650 to 1,675 square feet. Prices ranged from $350,000 to $1,000,000.
The Textile Building has been declared an historic landmark by the City of Los Angeles and is listed on the National Register of Historic Places by the U.S. Department of the Interior. Because of the historic significance of the property, the Textile Building was the first downtown Los Angeles adaptive re-use loft project to offer buyers reduced property taxes under the Mills Act. Homeowners received up to, if not more than, 70 percent off their property tax bills, saving thousands of dollars annually in property taxes.
Architectural elements include ceilings up to twelve feet and oversized windows that provide dramatic views of the downtown skyline. Urban finishes such as concrete floors, stainless steel countertops, and appliances with industrial cabinets are included in all units. A rooftop retreat with LA views offers a swimming pool, hot tub, fitness center, basketball court, putting green, barbeque area, and lounging areas.