The century-old Bank of America building at 90 Pier Avenue could become four separate storefronts if the Hermosa Beach City Council approves a conversion plan at its Tuesday, July 28 meeting.
Property owner Jaden Theodora, who purchased the 5,069-square-foot building in April 2025, wants to convert the single-tenant interior into a multi-tenant commercial space with a redesigned facade, new storefront openings, and updated architectural details. The existing mezzanine level would be demolished as part of the renovation, according to a city staff report.
Theodora is represented by applicant Wajid Drabu in the entitlement process, city spokesperson Ryan Walker confirmed to the Daily Breeze.
The project needs two approvals from the council: a Certificate of Appropriateness and a Precise Development Plan. Hermosa Beach's municipal code requires a PDP for any project that rehabilitates or alters 1,500 square feet or more of an existing structure. Both items are typically handled separately, but city staff bundled them for a single council hearing to streamline the process, according to the staff report.
If the council votes yes, the project still faces one more hurdle. It must go to the California Coastal Commission for a separate approval before construction can begin, Walker said.
From bank to four shops, again
Bank of America vacated the Pier Plaza location in February 2024 after roughly 90 years at the address. The bank cited "low in-store transactions and other centers in close proximity" in its November 2023 closure announcement, according to Colleen Haggerty, the bank's senior vice president of media relations at the time.
The building dates to 1922, when E.J. Young, president and founder of the National Bank of Hermosa Beach, constructed it as a four-tenant space in what the staff report calls the "Pompeiian Style." The proposed conversion would return it to that original four-tenant layout.
The building was flagged as a potential landmark under Planning Commission Resolution No. 98-65 in 1998. However, a historical resources evaluation submitted by the applicant found no CEQA-qualifying historic resources at the site and recommended against listing it on the California Register. City staff concluded that the building's remaining character-defining features will not be substantially altered by the project.
Broader downtown push
The proposal arrives as Hermosa Beach works to attract new investment downtown. In February 2026, the City Council eased land value recapture fees after the Planning Commission called the policy a "failed experiment" that had discouraged development, according to the Hermosa Review.
The building has sat empty for nearly two and a half years.
No specific tenants have been publicly identified for the four spaces. The council meeting begins at 6 p.m. Tuesday, July 28 in the Council Chambers; residents can attend or submit public comment.
