LOS ANGELES, CA, May 21, 2021 – Silverstein Properties, a global real estate firm, announced plans for a $60 million capital improvement program to upgrade and reposition the U.S. Bank Tower in downtown Los Angeles.
Upgrades across 35,000 square feet of common spaces will include redesigning the building’s main entrance and lobby with the goal to bring hospitality to this one-of-a-kind office building. Amenities will include a new day-to-night juice and cocktail bar, a grab and go market, seating, collaboration areas and more. Silverstein also plans a new amenity destination for building tenants on the 54th floor, featuring panoramic views of LA, food and beverage options and an event space. The company also plans a full elevator modernization program. Building upgrades are set to begin in Summer 2021 and be completed by the end of 2022.
“I love Los Angeles,” said Lisa H. Silverstein, Vice Chairman of Silverstein Properties. “This city is a global destination that continues to attract some of the country’s leading businesses. I also believe in the future of Downtown LA as a major creative and business hub. I have no doubt that once the pandemic is behind us, we will see the return of dynamic job growth, millennial and Gen Z population growth and residential migration into Downtown.”
Lisa Silverstein and her team at Silverstein Properties are working with international design firm Jeffrey Beers and architecture firm A + I to lead the capital improvements that will modernize elements within the building and provide a workplace environment that meets the evolving needs of both traditional and creative office tenants.
“I am very excited that my design studio, JBI, is taking part in this incredible movement forward in the evolution of office culture, look, and feel,” said founder and President, Architect Jeffrey Beers of Jeffrey Beers International. “A hospitality driven design and food & beverage programming will create an inviting and energetic atmosphere,” continued Beers, “which will encourage employees and colleagues to meet, discuss ideas, and to creatively collaborate. Bringing our thirty-five plus years of hospitality design knowledge and experience to the new, hip-urban-boutique hotel feel and look to the U.S. Bank Tower is truly a wonderful opportunity.”
Planned improvements include:
Modernized Lobby: The redesigned lobby and entrance to the U.S. Bank Tower will offer a warm and inviting entry to the landmark tower with many features unique for a commercial building. Driven by hospitality-forward design, the lobby will include food and beverage options, cabana-style elements, a generous lounge area, large communal tables, and patio seating at ground-level entrances.
The Vista: Located on the 54th floor, building tenants can take advantage of a variety of lounge and meeting spaces with expansive panoramic views of Los Angeles. The Vista will feature a fireplace and relaxed seating, a co-working lounge to support both collaborative and focused work, and a range of bookable conference rooms. The floor will also feature a drink bar and grab and go cafe, and a full-service kitchen to cater meetings and private events.
INSPIRE by Silverstein: Silverstein Properties’ goal is to provide companies and their employees the flexibility to choose the work environment that best suits their needs on any given day, as well as a range of in-person lifestyle experiences to enrich health and wellness, collaboration and culture. The company’s customer experience program, INSPIRE, will be available to all U.S. Bank Tower tenants via mobile app, offering flexible work and meeting spaces and amenity spaces in all of Silverstein’s office buildings across the country, wellness and social programming, food services, and concierge services.
“Once completed, U.S. Bank Tower will sport a look and feel more in line with the world’s leading boutique hotels,” said Jeremy Moss, Executive Vice President of leasing at Silverstein Properties. “Informed by hospitality design, our repositioning plans will transform all aspects of the building to create a workplace environment that meets the evolving needs of the modern workforce.”
Employees will also have access to Silverstein Properties’ holistic customer experience program, INSPIRE, which offers a variety of services from booking flexible meeting spaces to building-wide programming and events all accessible via the INSPIRE app.
U.S. Bank Tower was designed by Pei Cobb Freed & Partners and built in 1989 by Maguire Properties. Located near the Pershing Square Metro station, it is the second tallest tower in Los Angeles at 1,018 feet, and one of the most prominent buildings on the city skyline. U.S. Bank Tower is LEED Gold-certified, and its tenants include U.S. Bank, Lewis Brisbois Bisgaard & Smith LLP, Thomson Reuters, and Marsh USA.
Silverstein Properties acquired the U.S. Bank Tower in September 2020. The company has recently expanded in other U.S. cities including Seattle, Las Vegas and Philadelphia, where it acquired 1735 Market Street in Central City, and is currently developing a life-sciences building in University City.
