The apartments were developed by their namesake –
Isaac Newton Van Nuys – in 1913 as a financial center in the heart of
Los Angeles. The building was designed by the architecture firm
Morgan, Walls & Clements, who designed other notable landmarks such as the
Mayan Theater,
El Capitan Theater, and The Citadel. Upon its opening, First National Bank occupied the entire first floor and basement of the building, while
Dean Witter & Company,
Merrill Lynch, and other financial services firms occupied offices in the upper floors. The building served as a bank and office building until the late 1970s. In 1982, the building was converted into a 299-unit residential complex reserved for low-income senior citizens via funds from the
HUD and
CRA/LA. The conversion also included rehabilitation, and the creation of of retail space on the ground floor. The basement was converted into parking. In 2018, the property was acquired by
Related Companies, which purchased it from
Aimco. ==External links==