Project / Press Releases

THE ROOSEVELT IS VAILED IN BANNERS, HERALDING THE LAUNCH OF THE ULTIMATE DOWNTOWN LA LOFT RESIDENCES

Potential Buyers Can Register NOW for the Most Prime Loft Space in Southern California

LOS ANGELES, Calif. - July 26, 2006 - Anticipation builds for The Roosevelt, one of the most dynamic adaptive reuse projects in downtown Los Angeles . New banners were recently unfurled announcing what is soon to come: urban living with a resort lifestyle. Downtown LA residents, visitors and business people are noticing a new look at the intersection of 7th and Flower with giant, colorful, graphic-style banners covering the exterior of the historic building while the interior transitions from the past to the future.

Starting in the mid-$400,000s, The Roosevelt is slated to open in late spring 2007. An interest list is forming now at www.rsvlt.com for future owners interested in having the best of everything: location, space, luxury, design and access. Created in 1927 as a notable downtown office building, The Roosevelt was declared a City of Los Angeles Historic Cultural Monument on April 26, 1988 . When construction is completed, the new era of The Roosevelt will be a 223 residential luxury loft complex complete with onsite amenities such as a spa with sauna and massage room, world class fitness center, elegant roof top pool and Cabana Club, private temperature controlled wine cellar, tanning and hydrotherapy rooms, a business lounge, wireless Internet access and onsite valet parking for residents and guests. Lofts will be one-, two- and three-stories ranging from 800 to 3,000 square feet.

"The Roosevelt promises to bring glamour, excitement and comfort in the best location in downtown Los Angeles ," said M. Aaron Yashouafar, chief executive officer of Milbank Real Estate Services, Inc. who is overseeing the development. "The banners add a little bit of mystery and enthusiasm about what is to come for future residents. To be downtown and steps away from the 7th Street Metro Center, great shopping, entertainment and dining is The Roosevelt's clear location advantage. However, the people who will soon own lofts within the building will discover the ultra-luxurious amenities, design and space that really make this project outstanding."

The Roosevelt is designed by Killefer Flammang Architects and Ambiance Design Group. Interested buyers will be able to take a peek at what is under the banners starting in mid-September 2006 when the sales office opens.

About The Roosevelt
Situated in the heart of the financial district in downtown Los Angles, The Roosevelt is a historic building being transformed into a posh urban oasis, designed for individualists who want the best of everything when it comes to owning a luxury condominium loft: location, space, luxury, design and access. Amidst the energetic lifestyle and booming downtown Los Angeles real estate market, The Roosevelt provides upscale city living with a luxurious twist. The newly renovated 1920s building will offer 223 single- and multi-story lofts ranging from about 800 to 3,000 square feet. The original iron works and ornate fixtures on the exterior of the historic building juxtapose the eclectic interior that is ahead of its time. The ideal location for the present and future of downtown's development, The Roosevelt will be steps away from the sites of the Ralph's Market and LA Live entertainment center which are already under construction. The lofts are conveniently located an escalator ride away from a Red Line Metro stop (directly accessible from the exterior of the building), across from Macy's Center shopping and steps from the Staples Center and all of the best dining and entertainment downtown Los Angeles has to offer.