Photograph by Spine 3-D
Feature: Lofty Ideas
March 1, 2006
Loft living used to attract only the most bohemian of people. Long on heating bills and short on comfort and privacy, lofts–which are, historically, converted factory spaces–made their reputation by housing artists whose work required wide-open areas. The trade-off for living in a dwelling large enough to accommodate 20-foot-tall canvases was, of course, the industrial aesthetics. In the 1970s and 1980s, no one could call a Manhattan loft comfortable.
But the phrase luxury loft is no longer an oxymoron. Lofts are now
created–not just converted–for high-end residential use. While new lofts offer the same
open floor plans, expansive views and sky-high ceilings, they are just as likely
to come with high-end kitchen appliances, sunken tubs, rooftop pools, fitness
centers and top-flight security systems.
“We’re trying to redefine the approach for sophisticated urban living,” says Tom Cody, principal of the South Group, which saw lofts in its Luma building, currently under construction in downtown Los Angeles, sell out in seven hours one day in September. The 236 units, billed as “soft lofts” and priced from the $400,000s to more than $2 million, offer floor plans of up to 3,500 square feet, with stainless steel appliances, IceStone slab kitchen countertops, walk-in closets, hardwood floors, a concierge and a terrace plaza with a pool.
“People who buy lofts today have upper-end-of-the-market expectations,” Cody says. “They won’t live in marginal homes. It’s driving the rebirth of the loft as a beautiful thing and not a rugged, unfinished thing.”
In Los Angeles, some of the most breathtaking lofts are updated historical showpieces. Broadway Hollywood, a Renaissance Revival landmark at Hollywood and Vine that was once the Broadway department store, is steeped in vintage elements: The original polychrome brick finish has been uncovered after decades of being buried under paint; rows of elaborate Corinthian columns line the lower levels and upper loggias; a historic neon beacon crowns the rooftop. Also known as Los Angeles Historic-Cultural Monument #664, the 1927 building is taking on new life as 96 loft condos, with prices as high as $1 million to $3 million.
Clad in eye-catching turquoise terra-cotta, the Eastern Columbia in downtown Los Angeles is a 1930 example of Zigzag Moderne, a geometrically stylized version of Art Deco. Once an opulent department store, with showroom windows stretching 14 feet high, it is being converted into 147 loft condos, with square footage ranging from 881 to 3,208. Penthouses in the building–which includes a rooftop pool, leisure terrace and fitness studio–start at $3 million.
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