AvalonBay Communities, a developer known for its distinctive and attractive (cough) buildings, has purchased a 1.7-acre property on the corner of Los Angeles and Second streets in Little Tokyo and will erect Matsu, a six-story rental building, reports the Downtown News. Construction begins in early 2008. "We think Downtown is reaching critical mass," said Chris Payne, vice president of development for AvalonBay tells the newspaper. "We think there's a real dearth of quality housing relative to the employment in Downtown." Anyone got renderings of this quality building?
· Land Sale, More Units For Little Tokyo [Downtown News]