Real Estate
LA Developer Set to Turn Koreatown Office Tower Into Apartments
- Lee’s latest project will convert building purchased in 2005
- LA’s ‘high political risk’ deters developers, Lee said
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One of the biggest apartment landlords in Los Angeles is transforming an old 13-story office building in the Koreatown neighborhood into more than 230 apartments.
Jaime Lee’s family-run firm, Jamison, acquired the property in 2005. The conversion is one of three under construction with another dozen on the drawing board for the firm. Many of the buildings were acquired decades ago at steep discounts by her father, Dr. David Lee.