News Summary
Construction has started on the Slater Ave Apartments, a new five-story, 272-unit apartment complex in Fountain Valley. This project includes 33 low-income units and aims to provide affordable housing options. Located near key municipal landmarks, it will also feature commercial spaces and community amenities. The complex is expected to take two years to complete, with prospective residents able to join an interest list prior to occupancy.
Fountain Valley Begins Construction on New 272-Unit Slater Ave Apartment Complex
Construction has officially commenced on the Slater Ave Apartments, a new five-story, 272-unit apartment complex located in Fountain Valley. This major development, situated on 3.34 acres at 10231 Slater Ave, near the intersection of San Mateo, is being spearheaded by JPI, a Texas-based real estate firm, in collaboration with Heitman, a company based in Chicago.
In alignment with housing regulations, the proposed apartment complex will include 33 low-income affordable units, representing approximately 12% of the total units. This initiative aims to enrich the community by introducing more housing options, particularly for those requiring affordable living solutions.
The Slater Ave Apartments will be strategically located directly across from key municipal landmarks, including the Fountain Valley City Hall and the police department, making it a significant addition to the area. The complex is designed not only for living spaces but also to enhance community engagement through various amenities and retail offerings.
The project will feature a variety of commercial spaces along the street-facing side, including a 7,300-square-foot restaurant area and 1,600 square feet for retail. Additionally, a substantial 15,000 square feet of space is dedicated to community amenities aimed at providing residents with a high quality of life. Among the amenities planned are two swimming pools, wellness facilities, co-working lounges, and open-air gathering areas, promoting both relaxation and social interaction.
The construction of the Slater Ave Apartments is projected to take up to two years, with the opening of the apartments anticipated in 2027. JPI has announced that an interest list for prospective residents will be made available 90-120 days prior to occupancy, allowing community members to express their interest in the new apartments.
Additional Developments on the Horizon
Fountain Valley’s city government is actively considering further apartment developments, which include the Magnolia Fountain Valley, a proposed 657-unit complex that will feature income-restricted housing. This development plans to incorporate two mid-rise buildings, a structured parking facility, retail areas, and a public dog park, demonstrating a commitment to creating a well-rounded community.
Another notable proposal, Euclid + Heil, aims to build 304 market-rate apartment units, alongside 83 affordable units for seniors, triplexes, and townhomes. The planning commission for Fountain Valley will conduct a review of these developments during a meeting set for June 11 at Fountain Valley City Hall.
Relevant Local Real Estate Activity
Furthermore, R.D. Olson Construction has initiated work on Vintage Farms, an $80 million apartment village in Murrieta, featuring 330 units spread across 11 buildings, equipped with diverse amenities designed for residents.
This ongoing growth in Fountain Valley and the surrounding areas reflects a robust demand for housing and a proactive approach by local developers and the city to meet that demand.
Deeper Dive: News & Info About This Topic
HERE Resources
Fountain Valley’s Former Boomers Site Proposed for Mixed-Use Development
Additional Resources
- Orange County Register: Work Begins on 272 Apartments in Fountain Valley
- Google Search: Fountain Valley apartments
- Orange County Business Journal: 272 Luxury Apartments Slated for Fountain Valley
- Wikipedia: Fountain Valley, California
- Los Angeles Times: 657 Unit Development Proposed for Former Boomers Site
- Encyclopedia Britannica: Apartment
- The Real Deal: Too Tall Apartment Complex Approved in Fountain Valley
- Google News: Fountain Valley real estate
- Yield Pro: Beachwood Apartments
- Google Scholar: Fountain Valley housing developments
