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LOS ANGELES-Developer Roosevelt Lofts LLC will convert the80-year-old landmark Downtown office building into 223 condominiumsin an $80-million project that will include the first Red and BlueLine transit stations on site at such a development. The developerwill convert the 300,000-sf, 16-story Beaux Arts building at thenortheast corner of Seventh and Flower streets into residentialunits including two-level townhouses and penthouses.

The townhouses will range from 800 sf to 2,600 sf and the 17penthouses, which will measure more than 2,000 sf, will alsoinclude patios, according to M. Aaron Yashouafar, CEO of RooseveltLofts. The project is being designed by Killefer FlammangArchitects of Santa Monica, the firm that designed the conversionof the Pegasus, Pacific Electric and Eastern Columbia buildings anda number of other Downtown L.A. conversions.