Los Angeles-based developer CIM Group has plans to convert part of the former Farmers Insurance headquarters building on Wilshire Boulevard into 68 apartments, according to plans posted by the city this month.
Under the developer’s plans, more than 100,000 square feet of the three-story Mid-Wilshire office building at 4750 Wilshire Blvd. would be converted to residential space. About 33,000 square feet of office space would remain on the ground floor.
CIM Group acquired the existing office building, which sits immediately west of its offices on Wilshire Boulevard, in a 2014 portfolio deal for $91 million from Farmers Group Inc.
Its plans call for 10 studio apartments, 41 one-bedrooms, and 17 two-bedrooms, along with separate residential entry, lobby, and amenity areas. Six units would be reserved for very low-income households.
The project, which would also include facade improvements, would provide 136 residential automobile parking spaces and 62 bicycle spaces. Residents would have access to amenities such as a fitness room, yoga room, and co-working space.
Designs for the proposed project are being led by Culver City-based project architect KFA Architecture and landscape architect Agency Artifact.
