American Post Development LLC, a new development partnership between Post Investment Group LLC of Los Angeles and AMF Development LLC of Huntington Beach, plans to build a 208-unit luxury apartment project in downtown Glendale aimed at young urban professionals.
The apartment complex, known as “Broadway Lofts”, will be located at an old Circuit City location a few blocks from the Americana at Brand, the Glendale Galleria and Glendale Marketplace shopping centers. Most of the units will be studios and one-bedroom apartments, Jack Ehrman, a principal at American Post, said Thursday.
American Post entered into a joint venture with a BlackRock-managed fund to finance the project, in which AMF performed most of the pre-development. Studley Inc. served as financial advisor.
The five-story complex on eight tenths of an acre at Broadway and Maryland Avenue will be LEED-certified and topped by a rooftop terrace with two spas and entertainment areas. There will be three levels of underground parking and retail spaces on the ground level, which is adjacent to a city parking structure.
Ehrman said the project has all its entitlements and is scheduled to break ground in the first quarter.