L.A. Unified to Vote on Building Purchase
The Los Angeles Unified School District’s board may approve the purchase of a new downtown headquarters building today.
District officials confirmed that the board is set to vote in closed session on whether to purchase the 29-story tower at 333 S. Beaudry Ave. The building has been occupied primarily by Security Pacific Bank and Bank of America since its completion in 1982. Property records identify the owner as Beaudry I Investors. Its assessed value is $74 million.
The board has said it plans to build a high school on the site of the its old headquarters at 450 N. Grand Ave. after the main office is relocated. The district also has been leasing space in a high-rise at Wells Fargo Center on Bunker Hill.
Downtown real estate observers tracking the LAUSD headquarters search said the district probably would sublease much of the 900,000-square-foot Beaudry Street building from BofA before acquiring the property outright at the end of the bank’s lease in 2005.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
