As its insane gentrification marches on, the Arts District is getting a little less warehousey and a lot more apartmenty. Joining the under-construction, long and lanky One Santa Fe, which is bringing 430 apartments to the east side of the neighborhood, and Legendary Development's 472 planned units on East Third Street, is the Megatoys project on Garey Street between First and Second Streets, back from a four year slumber. Approved back in 2009 and then put on ice, the project was slated to replace the Megatoys warehouses with a six-story, 320-condo development flanking Garey Street. Megatoys has moved their operation down to Commerce, and the LA Times says the warehouse is now being demolished, but for apartments, not condos, and the design by Togawa Smith Martin is looking a bit different this time around, too. A good thing, since back in 2009, neighbors found an old design "cringe"y.
As before, the idea is to pedestrianize Garey and line the street with shops and restaurants. "The complex will also have private courtyards that will include a swimming pool, fire pits and a dog run. Residents will have on-site, below-grade parking and a bicycle storage area and maintenance workshop." The $100-million project is being developed by Lowe Enterprises, whose executive calls the design "contemporary with an industrial edge." We're guessing all that brick in the new design is a response to critics who said the 2009 version looked "like an Orange County building moved in."
With rents expected to land in the low-to-mid-$2,000s, Lowe is aiming for the--all together now--young professional market.
· Two vacant L.A. warehouses to be replaced with mixed-use complex [LAT]
· MegaToys Arts Project Not Artsy Enough, But Still Approved [Curbed LA]