'Crazy' Gideon Kotzer to Enter Adaptive Reuse Market
Ed Fuentes
Early plan for Gideon's new use for his Traction Ave retail warehouse location in the Arts District.
DOWNTOWN LOS ANGELES — Gideon Kotzer, long time electronics entrepreneur and provider of late night television commercial classics, may be thinking that keeping his warehouse a retail mecca for plasma TV and stereos is now crazy.
The famous store owner, known as “Crazy Gideon,” has begun the permit and application process seeking adaptive reuse that will also add new construction for Crazy Gideon’s Warehouse, located at 830 Traction Ave in the Arts District.
Working with the Elizabeth Peterson Group, the warehouse will be converted into a mixed use development with 76 live/work condos, a rooftop garden, two lower level floors of parking with 139 spaces, and 6,900 square feet of retail space–-split at the entrance with 3,800 on one side, and 3,300 feet on the other.
The plans were presented at last night's Los Angeles River Artists and Business Association meeting.
The real question may not be how funding will be secured in this soft market, but how many times the question “Will I have a TV if I purchase a condo?” will arise. Perhaps “You’ll be crazy not to buy this loft space!” will become a shopworn phrase.
Crazy Gideon marketing references aside, his Arts District land is short on growth options. Like with AMP Lofts, a viable solution to reuse the land in a profitable manner is being sought. In this case, with live/work units and additional parking planned, the changes for this Gideon holding are a benefit to the Arts District.
Metro Local on May 06, 2008, at 05:44PM – #1
Wonder if it is the pending conversion to digital signals that is making Crazy think it might be time to go out of business instead of perpetually going out for business?
tornadoes28 on May 07, 2008, at 10:54AM – #2
Not only does mixed use make sense downtown, I think it makes sense for most of the entire city. Why do we still separate strip malls and other commercial development from residential? LA is mature enough now that residential and commercial should be mixed.
Kevin Korenthal on May 07, 2008, at 01:25PM – #3
I bet he'll "Stock em deep and sell em cheap".
Raina on May 07, 2008, at 02:13PM – #4
I met him several (read: about 6) years ago and he was talking about this project or something similar. I am glad that he is really doing it!
Metro Local on May 07, 2008, at 03:06PM – #5
Filing for the City Planning permit and doing the project are two different things.
Land becomes more valuable when it has the appropriate approvals in place for further development.