Megatoy's Warehouses Go Multifamily

LOS ANGELES-Lowe Enterprises and Megatoys have joined forces to transform two former Megatoys warehouses in Los Angeles’ Downtown arts district into a two-building, 320-unit apartment complex, located at 905 E. Second St. Construction on the project began this week with the demolition of the two warehouses, and is estimated to be complete in the third quarter of 2015.

“There is tremendous demand for apartments in downtown Los Angeles and this property is particularly well-suited for infill residential development,” says Tom Wulf, senior VP of Lowe Enterprises.  “It is large enough so that we can create great outdoor spaces including the pedestrian paseo that will be lined with residences, retail and restaurants with outdoor seating.” Wulf, who will be managing the project, also notes that the site is close to public transportation, including a Metro station.