The tallest building on the west coast of the US will soon open an observation deck and sky-high restaurant in an attempt turn the Los Angeles tower into a tourist attraction capable of drawing 500,000 visitors a year.

The US Bank Tower, which first opened in 1989 at a cost of US$350m (€317.5m, £224m), was developed by the architectural team of Pei Cobb Freed & Partners and Ellerbe Becket. The new observation deck and restaurant, designed by Gensler, is the first of its kind in Southern California and will offer visitors expansive views of Los Angeles, stretching across the Hollywood hills, all the way to Catalina Island.

Singapore investor Overseas Union Enterprise (OUE) bought the tower in 2014 for US$367.5m (€335.4m, £235.7m). At the time, the half-occupied building was thought to be partially earmarked for conversion into hotel and residential space. Following the announcement, it was revealed that the 72-storey skyscraper will remain largely office space, although it will get around US$50m (€45.6m, £32m) worth of improvements, including a renovation of the public lobby.

The building’s top floor will remain an office for rent, while the 71st floor below it will be converted into a restaurant, offering 360º views of Los Angeles. The building’s 69th and 70th floors will be connected by an interior stairwell and then turned into an observation deck and meeting space. The 69th floor already has pre-existing terraces which will be opened up to form an outdoor viewing space. To keep business and leisure separate, a portal will be created on the second floor to serve visitors to the building.

OUE anticipates that the observation deck will attract 500,000 visitors annually, generating US$12.5m (€11.4m, £8m) in ticket sales alone. It plans to open the new deck by Q2 of 2016.