A Look at the Arts District’s Newest Apartments, Where Units Rent for $2,500

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The newest apartments to land in the hippest-of-all-neighborhoods Arts District are welcoming their first tenants. The once-stalled 320-unit apartment complex, now called The Garey Bldg., opened Friday on the former site of the Megatoys warehouses.

Flanking Garey Street, the five-story complex holds mostly studios and one-bedrooms, and some two-bedrooms, ranging from 411 to 1,033 square feet. They rent at an average price of $2,500, says Tom Wulf, a vice president with developer Lowe Enterprise’s.

  by Elizabeth Daniels

There’s street-level retail (though no shops have opened yet) and lots of sleek, shared spaces: A rooftop with stellar views of the downtown skyline; a pool; a lounge with a big TV and fireplace; a “library,” which is a generous name for a dining room-type room with some shelves of books; and, a gym with a big rolling door that opens to a “paseo,” a paved path that connects to 1st and 2nd streets.

The Garey Bldg. is emblematic of how housing is starting to be built in this neighborhood once characterized by lofts. Now there are several mixed-users with amenities galore. They’re marketed at tenants who want walkable neighborhoods and access to public transit, a trend started by One Santa Fe.

At 905 East 2nd Street, The Garey Bldg. is less than half a mile from the Little Tokyo / Arts District light rail station. It’s also right across the street from the gorgeous Hauser Wirth & Schimmel Gallery on 2nd Street, which you can walk through to get to 3rd Street, and that’s where the restaurants and bars are at.

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