The historic Arcade Building in downtown Los Angeles will be converted into 142 loft-style apartments as part of a $15-million renovation to the mixed-use complex, according to property owner Fifth Street Funding Inc.
The 195,000-square-foot structure features two towers and a cavernous interior arcade that stretches from Spring Street to Broadway.
The Spanish Revival Renaissance-styled arcade, designed by architects Kenneth MacDonald and Maurice Couchot, was modeled on the Burlington Arcade in London. The complex opened in 1924 as the Mercantile Arcade Building.
