Pan American Lofts is an adaptive reuse condominium loft project within the vintage Irvine Byrne building of downtown Los Angeles. The property consists of an existing 72,170 sq ft, five-story office building that was constructed in 1894 and is listed on the National Register of Historic Places. By utilizing the city's Adaptive Reuse Ordinance, the project will convert the currently vacant second through fifth floors of the building into 40 residential condominium units, four office units, and maintain the existing 6,100 sq ft of retail on the ground floor.

The Irvine Byrne building is located on the northwest corner of 3rd Street and South Broadway within the Historic District of downtown Los Angeles. The property is located within close proximity to the One Wilshire Telecommunications Hub, the Central Business District, the Grand Central Market, City Hall, The Disney Concert Hall, the Staples Center, the new Cal-Trans Headquarters, and only one block from the MTA Redline Rail Station.

43,500 sq ft on 0.3 acres

The project presents an opportunity to adaptively reuse a vacant office building in downtown Los Angeles to create much-needed, affordable workforce housing. The project will also contribute to the increasing residential density near the Financial District and Bunker Hill , providing housing in close proximity to approximately 10 million square feet of office space in the downtown area. Downtown housing will help to reduce traffic congestion and provide downtown workers with housing alternatives.

Construction is scheduled to be completed in March 2006.

Urban Pacific Builders, LLC is a Long Beach-based real estate development company focused on providing urban housing through the development of adaptive reuse, in-fill, and affordable housing communities in the Southern California marketplace.

$13,700,000

• Genesis Workforce Housing Fund is managed by Phoenix Realty Group LLC , a national real estate investment firm providing capital and expertise to urban developers for the creation of middle-market for-sale housing, urban smart growth development, low-income tax credit housing, and community revitalization projects.
• Urban Pacific Builders
• Bank of America