Downtown Boston’s newest luxury apartment complex, the 398-unit AVA Theater District, held a grand opening reception Wednesday.

Developed by AvalonBay Communities of Arlington, Virginia, and designed by CBT Architects of Boston, the 30-story tower was built on a former parking lot next to Jacob Wirth’s restaurant on Stuart Street.

The first move-ins took place in April and the tower is 37 percent leased with average rents topping $4,000 a month. AvalonBay launched the AVA brand in 2012 to appeal to a younger demographic with properties in walkable urban neighborhoods. AvalonBay also is developing what will become Boston’s tallest apartment tower when it’s completed in 2017, the 38-story Avalon North Station now under construction on Nashua Street.

SLIDESHOW: AVA Theater District Luxury Apartments

by Banker & Tradesman time to read: <1 min