Developer KOR Group has contracted with Taisei Construction to convert an aging office building in the financial district of downtown Los Angeles into an apartment complex.
The 13-story building at 612 S. Flower St. and Wilshire Boulevard has been empty for eight years. Los Angeles-based KOR Group plans to convert the office property built in 1949 to 322 apartments over street-level stores and parking. The project is scheduled to be completed in summer 2003.
KOR Group and Taisei also are upgrading the former Pacific Shore Hotel at Pico Boulevard and Ocean Avenue in Santa Monica into a 170-room hotel called the Viceroy scheduled to open this summer.