![]() Inside the lobby are decorations hand-painted by 1920s artisans, including slogans written in gilded paint such as “Trust is the keystone of the edifice of society.” Much of that work has been restored after having been covered in paint during earlier renovations. The architects brought in Hugo Ballin, a local artist who painted the murals at Griffith Observatory, to create tile murals above the front entrance depicting allegorical figures in Greco-Roman garb that symbolize Trust, Protection and Fidelity. The Trust Building is “an under-appreciated gem” in the Parkinson pantheon, said Los Angeles author Stephen Gee, who wrote a book on John Parkinson. The architects were behind some of L.A.’s most famous structures, including City Hall, Union Station and the Bullocks Wilshire department store. “It suits us to be in a building that speaks so well for architecture,” Esser said of the building, designed by the father-and-son design team of John and Donald Parkinson. The building’s design pedigree was also a factor in the firm’s decision to move there. The firm will move nearly 50 employees early next year to offices in the Trust that include an outdoor deck it will use to host events, she said. “So many new things are happening there.” “We are seeing so much work in the downtown area that it’s time for us to be there,” Chief Executive Tricia Esser said. Potential tenants who have toured the Trust include firms in technology, advertising, new media and architecture, he said.įirst to sign was architecture and planning firm KTGY, which has designed housing and retail projects such as the 438-unit One Santa Fe complex in the Arts District. Part of the appeal for creative firms, Christopher Rising said, is occupying a building with historic character that has been brought up to standards of modern safety and technology. In recent months, Warner Music Group consolidated its offices in a century-old Ford automobile manufacturing plant in the Arts District and online coupon firm Honey agreed to move to a former Coca-Cola bottling plant in the same neighborhood. ![]() One of the most expensive leases ever signed downtown was by audio streaming platform Spotify, which recently agreed to pay more than $5 per square foot per month to be in a new building in the Arts District, according to industry estimates.īy Rising Realty’s calculation, the Trust Building’s location in the once-blighted Historic Core is more an asset than a liability as growing firms in creative fields including technology and entertainment seek offices outside of longtime corporate enclaves such as the downtown financial district and Century City. The east side of downtown is also proving desirable enough to command office rents that match or surpass lease rates on Bunker Hill and the financial district, where some of the city’s best skyscrapers were built in the 1970s to early 1990s. is now headed back east,” Rising said, filling in old blocks with new activity that will eventually overlap with growth from the Arts District. The raft of development promises a reawakening of the once-grand street, Rising Realty Chief Executive Christopher Rising said. On another corner of the intersection, the new owners of the Continental Building, erected in 1903, have submitted plans to the city to turn the 12-story tower into a hotel with a rooftop bar and restaurant.Īnd looming nearby at 4th and Broadway is Perla, a new 34-story condominium and retail complex set to be completed early next year. The Hellman Building, a 115-year-old office building, is being converted to luxury apartments and stores. ![]() ![]() Another hotel is being built by Amsterdam-based CitizenM Hotels, which is erecting an 11-story inn with more than 300 rooms on a parking lot at the northwest corner of the intersection. Spring St., near the intersection of Spring and 4th streets, where development has been particularly intense.Ī former high-rise garage next door to the Trust Building is being turned into an upmarket Cambria hotel catering to business travelers. ![]()
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