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Spacey Buys a Biscuit for his 'Undiscovered talent' Pool

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Actor and producer (okay, and sometimes director) Kevin Spacey has purchased a unit in Downtown's Biscuit Lofts for a cool $1.2 million.

The building came to be in 1925 and envisioned as the West Coast HQ for the National Biscuit Company. Its building cost was $2 million--a shocking price tag eight decades ago--and it was designed by EJ Eckel, the Dean of American Architecture and of the firm Eckel & Aldrich, according to the building's official website. The Biscuit Lofts' 2006 remodel created 1, 2, 3, and 4 story lofts inside the former industrial space, and now Spacey can count himself among the wealthy, trendy owners.

But Spacey won't be hanging his hat here, necessarily. He's purchased the unit not for himself, but for his Trigger Street Productions, the innovative production company he formed over ten years ago that gives a break to Hollywood neophytes desperately in need of one. It is not clear how Spacey and Trigger Street will pay it forward and determine who gets housed there, or when they will be moving in, but, as the LA Times indicates, Spacey's "purchase solidifies the hip factor of the Biscuit." Phew! Here we were thinking Downtown and its many re-purposed and remodeled old buildings like the Biscuit were totally uncool.

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Photo of the Biscuit in 1925 via Biscuit Company Lofts