An eye-catching 1928 building on Sunset Boulevard in Silver Lake has sold to ArcWest Partners, which plans to refurbish it and turn into shops and creative offices, the company announced this week.
ArcWest Partners is a joint venture between Arc Capital Partners and Belay Investment Group, LLC. Managing partner Neville Rhone tells Curbed that redoing the building will bring much-needed office space to Silver Lake, a neighborhood where moneyed creative types already live. “If we can help people not get in their cars for two hours [to drive to work elsewhere], that’s always a good thing,” Rhone says.
There are all the right features inside the building: tall ceilings, wood floors, brick waiting to be exposed, and room for what Rhone calls “a grand staircase.”
Los Angeles architect Barbara Bestor of Bestor Architects will helm the redesign.
Bestor was the lead on the Silver Lake Conservatory of Music, and she always seems to be juggling the restorations of homes designed by organic modernist John Lautner, from the painfully gorgeous Silvertop in Silver Lake to a “lost” Lautner in Echo Park.
Rhone says work should take about a year, but that Industry Partners, the leasing agents for the office space, have already seen some interest from media companies and production firms.
Meanwhile, ArcWest is in the process of restoring the Chapman Plaza, which it purchased last year.