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September 20, 2019
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MULTIFAMILY NEWS
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The World May not Be Flat but Cool Housing in DTLA Is

8/13/19

A newly reimagined, mid-century modern all-studio apartment complex, The Flat, is set to open its doors this week. Located in downtown Los Angeles at 750 Garland Ave, The Flat is designed for those seeking an experiential living environment within walking distance of key downtown attractions such as LA Live and Staples Center.

“These studio apartments are an exceptional value for housing in the downtown area,” said Tina Miserendino, Director of Marketing for Waterton. “The Flat offers a prime location as well as amenities that give residents access to everything downtown L.A. has to offer. We also provide short term housing options for consultants who need to be in DTLA for temporary projects, people looking for the energy and convenience of living in the epicenter of downtown, and many others. Given there are not many options for this type of housing, we are addressing a gap for the middle market renter in the DTLA housing market that fills this niche.”

The Flat is the latest offering in an international movement that sees people wanting to live in walkable neighborhoods, communities with well-appointed indoor-outdoor common areas, fitness centers, smart technology, and pet-friendly spaces, all of which is included in The Flat. Rents range from $1585 to $2815 a month.

This trend is predicted to continue. In fact, a recent survey from Harris Poll and Eventbrite cites 78% of millennials—compared to 59% of baby boomers— “would rather pay for an experience than material goods.” By reducing their carbon footprint and frequently choosing communal experiences, young millennials are embracing, in record numbers, a new set of values prioritizing environmental mindfulness and a new restrained consumerism.

With nearly 4,000 new apartments under construction in downtown Los Angeles, the majority of them luxury units, The Flat stands out as a fully-amenitized all-studio, mid-century modern community offering urban chic studios in the heart of downtown Los Angeles.

The six-story complex features a heated swimming pool with a sundeck, and a fully equipped fitness center and yoga room. A Wi-Fi-enabled resident lounge includes a pool table, a large flat screen for movie nights, with open seating areas giving residents the option of a collaborative, commute-free and co-work style office space. Laundry facilities are provided on each floor, while controlled property access, covered garage parking and a package receiving area are additional amenities. The structure itself is sited to provide view corridors from most units as well.

The 205-unit complex was originally constructed as a hotel, and was converted into apartments in the mid-2000s. Waterton, in partnership with The Kor Group, purchased The Flat in 2014 and began the current renovation project about a year ago.

Located near the financial district of DTLA, just one block from the I-110 freeway and with convenient access to the 101 and 5 freeways, the transit-oriented community (TOC) offers numerous mobility options and is just a short walk from L.A. Live, Staples Center, and the Los Angeles Convention Center. The Flat is centrally located to restaurants, bars, shopping and top tier entertainment, offering a highly desirable commute-free, urbanized lifestyle.





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