Gilmore, Perrone to Open Contemporary Art Museum in Old Bank District
Jerri Perrone and Tom Gilmore have plans to open a contemporary art museum in the Old Bank District Art Museum, complete with a rooftop sculpture garden.
According to reports, it's still in the early development stages and will cost around $25 million-$35 million. The current plan calls will be around 50,000 square feet of vacant space of the Hellman and Farmers and Merchants Bank buildings at Fourth and Main streets. Read the story here.
Gilmore Associates is a real estate development and management company formed in 1998 to purchase and renovate a group of abandoned, historic buildings in Downtown Los Angeles. As the first developer to utilize the Los Angeles Adaptive Reuse Ordinance, Gilmore Associates is credited with spearheading the residential boom in Downtown Los Angeles. Through its restoration and redevelopment of the historic Old Bank District neighborhood, Gilmore Associates has created a vibrant 24/7 neighborhood. This mixed-use conversion project is widely recognized as the most dramatic example of urban revitalization in Los Angeles' modern history.
Through its vision, Gilmore Associates redefined urban living in downtown Los Angeles and became the catalyst for what is now over $12 billion of new investment in the Downtown area. With the 230 market-rate rental lofts and 266 condos completed by Gilmore Associates, the Old Bank District continues to attract residential and retail to a neighborhood which is now home to over 10,000 new residents. The once vacant streets of the neighborhood are now alive with restaurants and bars, art galleries, clothing stores, salons and other retail.
Gilmore Associates remains committed to downtown development. It continues to grow and develop the Old Bank District neighborhood as well as pursue new ground up development opportunities.