DT News

Downtown Development

537 S. BROADWAY: Beverly Hills-based developer King’s Arch bought a six-story Art Deco structure at 537 S. Broadway this year for $7.35 million and plans to convert it into creative office space. The renovation of the 1931 edifice has already begun, with major tasks including a full seismic retrofit, an interior conversion with, among other things, new electrical and plumbing systems, and restoration of the intricately decorated facade. King’s Arch plans to complete construction by the end of the year, according to company partner Richard Shamooilian. The hope is to attract tenants in industries such as tech, media and fashion, he added. The building was originally designed by prominent Los Angeles architects Percy A. Eisen and Albert R. Walker.