AvalonBay’s live-work Arts District project gets go-ahead
The developer plans 475 units in the changing neighborhood
AvalonBay Communities’ large mixed-use project in the Arts District has been approved, adding to the flurry of projects that are transforming the neighborhood.
The Los Angeles City Council has given the development’s 475 live-work units the go-ahead, with the complex set to rise near the corner of Alameda and Seventh streets, Curbed reported.
The project at 668 Alameda Street, designed by R&A Architecture, will also include a grocery store and commercial space, as well as art galleries and studios. The Virginia-based developer will set aside 24 of the units as affordable.
AvalonBay will also include a 1,000-vehicle parking garage on the property that will include street-level parking. The developer said it is designing the structure with an eye to future of transportation, with ride-sharing services such as Uber and Lyft reducing the need for as many parking spaces.
Four industrial properties will be demolished to make way for the new development. Construction is expected to begin next year, and completed around 2022.
AvalonBay, led by CEO Timothy Naughton, is also building a 695-unit complex in Hollywood. Called AVA Hollywood, it is set to rise on Santa Monica Boulevard, and will wrap up construction late next year.
The Arts District, once a haven for artists and musicians, has become increasingly gentrified as developers take note of the area’s potential. Developer Hudson Pacific Properties recently redeveloped a former Coca-Cola manufacturing plant on Fourth Street into a 130,000-square-foot office complex, now leased entirely by coupon company Honey. Carmel Partners, a New York-based firm, is also planning a sprawling mixed-use campus nearby on Mateo Street, set to include residential units, retail and office space. [Curbed] — Natalie Hoberman