A new AvalonBay Communities' apartment complex features micro-unit and larger studios carved out of a former hot dog factory in East Cambridge, with access to first-class amenities at its luxury rental tower across the street.
The Avalon North Point Lofts have 103 units in the six-story former Maple Leaf Franks building. AvalonBay purchased the rights to redevelop the building as part of a deal with Archstone to buy the adjacent North Point luxury apartment complex with 426 units that was built in 2008.
The lofts are a different type of apartment for AvalonBay, whose local portfolio includes traditional luxury apartments and its tech-focused AVA brand geared to millennials.
"We did a complete gut rehab of the factory and added a lot more windows to make unique loft spaces," said Michael Roberts, vice president for development at AvalonBay. "The rents are also lower than our luxury or AVA apartments."
The loft rents, which range between $1,850 and $2,400, include free use of Avalon North Point's extensive amenities, including an indoor pool, gym, yoga and massage studio, hospitality room with kitchen and movie theater. Parking at the garage runs an extra $175 a month.
"People like the price point and efficient use of space, and we're getting a mix of grad students and professionals who work nearby," said property manager Sarita Gonzales, who said that 57 percent of the lofts have been rented after just a few months on the market.
Ranging in size from 329 square feet to 700 square feet, some studios have separate living and sleeping areas, while others are open-plan lofts. The apartments have ceilings over 11 feet high, and most have floor-to-ceiling windows.
The LEED Silver building emphasizes its factory origins, with polished concrete floors, large columns and exposed ductwork.
We took a look at two model units. Unit 105, a 450-square-foot micro studio with separate living and sleeping areas that's renting for $1,900, makes efficient use of space with a kitchen area with white quartz counters, about a half-dozen cabinets, a G.E. refrigerator and an electric cooktop with a microwave above. The adjacent living room is divided from a sleeping area by a three-quarter wall. There's a full bathroom with ceramic tile shower as well as an in-unit washer and dryer.
Unit 103, a 379-square-foot corner micro-unit, has a full kitchen with quartz counters, and an open plan living and sleeping area for $1,850 a month.
AvalonBay also is planning a six-story 300-unit apartment building in the NorthPoint neighborhood scheduled to break ground next year.
"We think NorthPoint has its momentum back," said Roberts. "There's still a lot of pent-up apartment demand and the long-term prospects for this area are good."
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