From Cubicles to Communities: World Trade Center’s Affordable Pivot
The fortress-like World Trade Center (350 S. Figueroa St.) is about to become one of the most significant addresses for low-income housing in Southern California. Jamison Services, the dominant force in L.A. real estate, has officially filed permits to convert the entire 400,000-square-foot office complex into 512 deed-restricted affordable apartments.
The Strategy Shift: Why 100% Affordable?
Before the pandemic, Jamison’s vision for the site was vastly different. In 2018, the developer planned to raze a portion of the complex to build a flashy 41-story market-rate luxury tower. However, the post-pandemic reality of the office market—and new legislative “carrots” from City Hall—led to a strategic reversal.
By opting for a 100% affordable conversion, Jamison can take advantage of:
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Increased Density: Scaling from the originally planned 463 units to 512 units.
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Streamlined Permitting: Bypassing the lengthy discretionary reviews that typically stall major high-rise construction.
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Adaptive Reuse Benefits: Utilizing the city’s updated ordinance to keep existing building heights and floor areas that exceed current zoning limits.
Mayor Bass and the “Citywide Adaptive Reuse” Push
Mayor Karen Bass recently visited the project site to highlight it as a success story for her Executive Directive 19 and the “Citywide Adaptive Reuse Ordinance.”
“We are unlocking tens of thousands of housing units by moving away from the status quo,” Mayor Bass stated. The city estimates that by easing regulations on commercial buildings at least 15 years old, Los Angeles can generate over 43,000 new homes without the carbon footprint or time-sink of ground-up construction.
Jamison’s Growing Residential Empire
This isn’t an isolated project for Jamison. Over the last decade, the firm has converted more than 10 buildings across Koreatown and Downtown into residential spaces. Other major projects currently in the pipeline include:
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1055 W. 7th St: A 33-story office-to-residential conversion that will yield 686 units.
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3550 Wilshire Blvd (Walker Tower): A 495-unit project currently in the early stages of its transformation.
The Bottom Line
The conversion of the World Trade Center is a bellwether for the “New DTLA.” As office demand remains stagnant, the transition to high-density, affordable residential use is becoming the primary path forward for the city’s aging architectural icons.
BY HOONSIK WOO [woo.hoonsik@koreadaily.com]
