Loan Granted for Fashion Institute Planned Building

A $20-million, 10-year construction and permanent loan has been provided by Tokai Bank for the new $26.5-million, five-story campus of FIDM/The Fashion Institute of Design & Merchandising.

With a construction start scheduled for August, the 180,000-square-foot facility will occupy a 4 1/2-acre site bordered by Grand Avenue, 9th and Hope streets and Olympic Boulevard. The project includes 20,000 square feet of outside terraces and underground parking.

FIDM Realty, the Ratkovich Co. and the Jerde Partnership are working toward a completion date in early 1990.