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Fountain Valley Begins Construction on Slater Ave Apartments

Construction of the Slater Ave Apartments complex in Fountain Valley is now underway.

News Summary

Fountain Valley has commenced construction on the Slater Ave Apartments, a 272-unit complex aimed at providing affordable housing and modern amenities. The project will feature 33 low-income units and commercial space, with completion anticipated in two years. Located at 10231 Slater Ave, it is poised to meet the growing housing demand in the area while enhancing the neighborhood’s commercial offerings.

Fountain Valley Announces Start of Construction for Slater Ave Apartment Complex

Construction has officially begun on the Slater Ave Apartments, a new 272-unit, five-story apartment complex in Fountain Valley. This major development, located at 10231 Slater Ave, is being spearheaded by Texas-based JPI in partnership with Heitman from Chicago.

The complex is designed to cover an area of 3.34 acres and is strategically positioned at the intersection with San Mateo, across from Fountain Valley City Hall and the city’s police department. This prime location is expected to attract a diverse group of future residents.

Affordable Housing Commitment

In adherence to local housing regulations, the Slater Ave Apartments will include 33 low-income affordable units, which account for approximately 12% of the total apartments. This initiative aims to address the growing demand for affordable housing in the area.

Commercial and Recreational Features

The development will also feature commercial space, including a 7,300-square-foot restaurant and 1,600 square feet allocated for retail use. In addition, residents and visitors will have access to 15,000 square feet designated for various amenities. Planned features include two swimming pools, co-working lounges, wellness spaces, and open-air gathering areas, catering to the needs of a modern urban lifestyle.

Timeline for Completion

The construction of the Slater Ave Apartments is expected to take up to two years, with plans to welcome the first residents by 2027. An interest list for potential tenants will be made available roughly 90-120 days prior to the official opening date, allowing prospective renters to express their interest in securing a unit.

Future Developments in Fountain Valley

The Slater Ave apartment complex is part of a broader trend in Fountain Valley, where additional apartment developments are under consideration. A planning commission meeting is scheduled for June 11 to review these projects.

One notable proposal, the Magnolia Fountain Valley, plans to bring a 657-unit complex to the city, designed as two mid-rise buildings. This initiative will also include a parking structure, retail space, and a public dog park, with 78 of the units set aside for income-restricted tenants.

Another proposed development, Euclid + Heil, aims to offer 304 market-rate apartment units along with 83 affordable units designated for seniors and additional for-sale triplexes and townhomes, further enhancing the city’s housing options.

Regional Development Highlights

In nearby Costa Mesa, the Westport Plaza & Square shopping center was recently sold for $25.7 million, encompassing numerous local businesses. Additionally, CNI College is expanding its footprint by leasing 20,839 square feet at the Pacific Center in Santa Ana, bringing its total space to nearly 73,000 square feet.

In Murrieta, R.D. Olson Construction has commenced work on Vintage Farms, a forthcoming apartment village expected to feature 330 apartments, with a project value of $80 million. This community will include a clubhouse, pools, jacuzzis, and barbecue areas, spread across 15 acres and developed in five phases.

Conclusion

The commencement of the Slater Ave Apartments signifies an important step toward meeting housing demands in Fountain Valley, while also contributing to the overall economic growth of the area through the creation of both residential and commercial spaces. As the project progresses over the next two years, it will be one to watch as part of the evolving landscape of Fountain Valley’s real estate development.