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LOS ANGELES-MJW Investments has sold out its 64-unit Textile Building multifamily conversion, one part of the Santee Village development in the Downtown Fashion District. The Textile Building is one of seven historic buildings at Santee Village that are being developed into Downtown L.A. lofts by MJW.

Designed by Florence Casler in 1923 and built in 1926, the 12-story Textile Building is at 315 E. 8th St. MJW converted the building into units ranging from 650 sf to 1,675 sf that sold at prices ranging from $350,000 to $1 million.

The Textile Building has been declared a historic landmark by the City of Los Angeles and is listed on the National Register of Historic Places by the US Department of the Interior. Because of the historic significance of the property, it was the first Downtown Los Angeles adaptive re-use loft project to offer buyers reduced property taxes under the Mills Act, providing homeowners reductions of up to thousands of dollars annually in property taxes.

MJW adapted the Textile building to include architectural elements such as ceilings up to 12 feet and oversized windows that provide views of the Downtown L.A. skyline. A rooftop area includes a swimming pool, a hot tub, a fitness center, a basketball court, a putting green and a barbeque area.

MJW first began acquiring the historic garment and textile manufacturing buildings at Santee Village in 1998 and began to restore them, notes Mark Weinstein, president of MJW Investments. Other buildings at Santee Village include three others where MJW is marketing lofts for sale: the Santee, the Eckardt and the Cornell.

These other three buildings comprise 216 live/work loft units ranging from approximately 700 sf to 2,000 sf. Santee Village also includes Santee Courtyard, a block-long, landscaped central courtyard and retail center.

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