A Los Angeles group that purchased downtown’s Sycamore Square Apartments last winter is embarking on a plan to convert two-bedroom units to one-bedroom units and build an addition that will increase the complex from 59 to 160 residences.
Rohan Gupta, managing director of GFO Properties, said work is already underway to convert the complex’s two-bedroom, 1,280-square-foot apartments to one-bedroom units sized 555 to 685 square feet. At the same time, the owners are reconfiguring existing surface parking to include more angled parking and replaced large grassy medians with more spaces.
Those spaces will be needed before the owners start work later this year on a new three-story building on the southeast corner of the property at Robert S. Kerr Avenue and Dewey Avenue. He estimates the approximately 60-unit building will represent a $6 million investment.
Gupta said the changes involve converting what was designed as a very suburban complex into a more dense, urban housing development. The project is also catercorner to the Civic Center Lofts set to be built on a surface parking lot this next year by developer Ron Bradshaw.