A Vancouver developer buying the storied Los Angeles Times building plans to demolish portions of the 750,000-square-foot complex to make way for a residential and retail development [...]
[The developer] intends to build apartments in place of a 1970s-era chunk of the building at Broadway and First Street, according to sources familiar with its plan. The stone-clad segments from 1935 and 1948, along Spring Street, would undergo renovations to house offices and retailers.
— LA Business Journal
According to the article, the developer – Onni Group – paid around $120 million for the building. It was previously owned by the Chicago-based company Tribune Media Co. The Los Angeles Times remains a tenant in the historic structure.
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