Dearden’s building in DTLA will be refashioned into creative offices

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Downtown LA’s Dearden’s furniture store, which famously furnished Latino homes across LA for decades, shuttered last summer. Now, its next act is on the horizon.

The Los Angeles Business Journal reports that the building will house 100,000 square feet of creative office space and ground floor retail. Renovations are expected to begin “soon” and are expected to wrap up in late 2019.

The new owners ESI Ventures and Urban Offerings—both Westside-based companies—also partnered to purchase the Norton Building, which is located just around the block on Los Angeles Street near Eighth Street.

Last year, the duo presented its plans to renovate the five-story building to the Downtown LA Neighborhood Council. Its plan is to turn the structure into creative offices with a ground-floor food hall and a rooftop restaurant.

ESI alone bought the parking lot next to Dearden’s, and plans to continue using it for parking. The total cost for all three properties was approximately $134 million, the Journal says.

The Fashion District is the site of a few proposed adaptive reuseprojects and one planned 33-story tower. The latter is being developed by Realm Group and Urban Offerings.

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