| a Young Urban Communitysm | ||
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PROJECT SUMMARY |
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BROADWAY LOFTS |
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and Entertainment |
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This .83 acre urban infill Project will occupy a prominent corner one block from the center of Downtown Glendale, which sits 6 miles due north of Downtown L.A. The Project Site is also at the geographical center of the City’s planned Entertainment District. In keeping with this theme, the ground floor will include upscaled entertainment and restaurant venues. |
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Looking south across Broadway on Maryland |
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Above the ground floor, the Project includes 208 apartments in a five-story, six-level structure above the podium, targeting Glendale’s Young Urban Professionals who are primarily single (80%). Notwithstanding the Project’s signature level design, with 50% of the units two story mezzanine lofts, and such condominium level quality finishes as granite countertops, bamboo cabinets, and in-unit laundries, 12,000 of Glendale’s young adults will be able to afford the Project’s average rents. Most in this group are young urban professionals who prefer to live downtown where many work and they all play. None in this group can afford the average rents of the three Downtown apartment projects built in the last 10 years. (Average occupancy for these three projects and the other five large Glendale apartment projects is 98.64%). |
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Project Site |
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This site has more urban amenities within two blocks than any known, comparable project in the nation; It has a walkscore index of 100. The site is a block from the recently completed Americana at Brand, which has the ambiance of a mid-west town center, with apartments and condominiums over upscale retail including Guess, Tiffany and J. Crew. The Project is also a block from the Galleria, a regional mall which has Macy’s and Nordstrom as two of its anchors. In a two block radius there are four multi-screen cinemas, over thirty restaurants (including California Pizza Kitchen, BJ's Restaurant and Brewery, Olive Garden, Islands Restaurant, Cheesecake Factory, Outback Steakhouse, and Tony Roma's), and numerous shops, both local and national chains like Borders and Barnes and Noble, the main public library, five churches, and a weekly farmers’ market. This urban amenity-rich environment is capped with the Project’s 72 foot high, indirectly lit, 26,000 sq. ft. sky terrace, with hot tubs, BBQs, fire pit, private and open conversation areas, and enticing views of Downtown Los Angeles in the distance and Glendale's city lights up close. |
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The corner of Broadway and Maryland at night |
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The Project, which will be certified as LEED Silver, is served by public transit. Within 2.25 miles by bus there are employment opportunities in the Glendale Gateway Corporate Center, three major hospitals, and entertainment industry studios including DreamWorks Animation and Disney Imagineering (in total about 4,500 young urban professional jobs). The Amtrak Station, providing direct transit to Downtown L.A., is an eight minute ride by bus. The project's sponsor, AMF Development, is an affiliate of American Multifamily, Inc., who has been building large multifamily projects for 20 years. Their client list includes national developers like Pulte, Lennar, Standard Pacific, and Legacy Partners. The Company has completed half a billion dollars in multifamily projects during the last 10 years. |
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a Young Urban Communitysm |
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