Torrance, CA – December 17, 2012 – (RealEstateRama) — A new 208-unit multifamily complex that is the first of a Young Urban Community series planned by AMF Development, LLC (AMFD) has officially topped out, moving it closer to its opening in the early spring of 2013. The project, named Elevé Lofts & Skydeck, is designed specifically for the social and economic dynamics of the Gen Y crowd – those between 20 and 34 years old – many of whom have been forced to either move home or have multiple roommates given the soft job market and weak economy. The 170,000-square-foot, mixed-use complex, which is located on the corner of Maryland Avenue and Broadway, in the heart of Glendale’s Arts & Entertainment District, is the brainchild of AMFD, the development arm of American Multifamily, Inc., a seasoned design-build firm based in Huntington Beach, Calif.
“This concept is designed specifically to appeal to young professionals who would rather live in a smaller, yet well designed apartment set in a vibrant, hip and social community,” said Alan Dibartolomeo, chief development officer of AMFD. “Given the pent up demand for this type of housing in Glendale as well as many other urban areas, the timing is right.”
The firm, which has a 22-year history of building large multifamily and mixed-use projects throughout the Southern California area, decided to develop a product specifically for this market based in part on a research project completed for AMFD by The Futures Company, a national research house. The study indicated that 62 percent of the respondents would rather live in a studio apartment alone, rather than in a larger space with a roommate, even if it cost more – up to $300 a month – to do so.
“Our target audience is an environmentally conscious and technologically savvy generation, made up of young renters who are delaying marriage and family in favor of careers,” said Greg Parker, CEO of AMFD. “In addition, Elevé Glendale is the first project to come on line in the area that was designed since the recession. Cost and space efficiency were top of mind throughout the extensive design and product development period.”
The key to this mixed-use building, which is designed to LEED Silver specifications, is the quality, price and ambiance that will set this type of housing environment apart from other options. All selected materials are tactile and trendy, yet they focus on comfort and sustainability. The apartments themselves are space efficient, with the introduction of “micro-one bedrooms” integrating a full kitchen, bath, living room and bedroom with closet in under 400 square feet. High quality finishes in all the units include high gloss cabinetry, granite countertops, stainless steel appliances and in-unit laundries.
In addition, the highest level of technology is available throughout the development. Leasing tours will be led by a representative using an iPad along a ‘leasing path’ from entry to the roof top area, which serves as the crown jewel of the complex. Aptly called the “Sky Deck,” the 26,000-square-foot roof level has been transformed into a socially oriented open-air entertainment space that captures all the elements of the Southern California lifestyle. It has been designed with activity specific zones, including semi-private cabanas with power outlets and Wi-Fi, a demonstration kitchen, BBQs, a media center, a poet’s corner complete with a piano, a party area with fire pits, a separate sunning deck with hot and cold spas, and a full service, fenced dog park complete with a bathing station.
Other on-site amenities include a complete fitness center, outfitted with programmable cardio equipment with flat screens and iPod docks; and a fully furnished business center with multiple workstations, printers, and high bandwidth fiber optic data feed.
The structure itself is comprised of six levels of residential living offering the micro-one bedrooms, twin master bedroom units, and two-story lofts with 16-ft ceilings, which comprise 50 percent of the units. In addition, the ground floor space will house a hotel-style residents’ lobby and main desk, upscale restaurant and retail venues. There are three levels of below-grade residential parking.
The pet-friendly complex, which includes 14 affordable housing units, also integrates a number of sustainable design concepts throughout for a reduced carbon footprint. Electrical charge stations and space for 75 bicycles are included in the garage area. Green building practices such as use of low-flow water fixtures, low-emissions paints and finishes, regeneration of rainwater into the underground aquifer and an onsite recycling center have been incorporated into the design.
“Elevé Glendale has more urban amenities within a quarter-mile than any comparable project outside of New York City,” emphasized Parker. “There are 108 restaurants, 161 clothing and accessory stores– both local and national chains, the main public library, 12 churches and two weekly farmers markets all within walking distance. Walt Disney Imagineering, Dreamworks Studios and ABC entertainment are nearby as well as three outstanding hospitals and Glendale’s corporate center. A strong presence of urban professionals populate the daytime, now they’ll have the resource to also play and live here.”
About AMF Development, LLC
Based in Huntington Beach, Calif., AMF Development, LLC is the development arm of American Multifamily Inc., a fully integrated real estate company that has been building large multifamily and mixed use neighborhoods in California, Texas and New Mexico since 1989. During the last 10 years alone, AMF has completed over half a billion projects with clients including Legacy Partners, Pulte, Standard Pacific Homes and Lennar Homes. For more information visit: http://www.americanmultifamily.com/development.htm.