The company, which specializes in the development and adaptivere-use of commercial, hospitality and multifamily properties, iscurrently in negotiations to purchase the future site of the loftcomplex. The deal, which is expected to close later this month,includes the Citizen News building and an adjacent 7,500-sflot.

The project will cost between $10 million and $15 million,according to Karl Sternbaum, a principal at Accord Interests.Construction on the project is expected to begin early nextyear.

In Downtown LA, a number of office buildings are currently beingconverted to residential use, as loft spaces have garneredincreasing interest from developers in the past year. Local expertssay the trend represents a nationwide resurgence in residentialin-fill projects.

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