• 0
  • Home
  • About Us
  • What We Do

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do

“Too tall” apartment complex approved in Fountain Valley

Rendering of 10201, 10221, and 10231 Slater Ave (Slater Avenue)

The Orange County city of Fountain Valley is growing up – and some residents don’t like it.

Despite the objections of dozens of local residents, the Fountain Valley City Council approved a five-story, 270-unit apartment building with ground-floor shops and restaurants at the northeast corner of Slater Ave. and San Mateo St., the Orange County Register reported.

The mixed-use project near the 405 Freeway would add exceptional height to a city whose tallest commercial buildings, Hyundai Motor America Headquarters and Orange Coast Patient Care Pavilion, stand at six stories.

“I’m afraid we’re going to get closed in by tall buildings,” a woman told the council prior to the 3-2 vote. Referencing the city’s motto, she added, “I want to keep Fountain Valley a nice place to live.”

Around two dozen others urged officials to reject a project they said would boost traffic, tie up parking and charge rents higher than most young families can afford.

Parents pointed to the housing affordability crisis that has forced young adults to leave the state to buy a home, saying it’s a family issue. “We are apart from our grandchildren,” a woman said.

The 3.3-acre apartment complex, developed by Newport Beach-based Slater Investments, will offer a mix of studio up to four-bedroom apartments, with rents between $1,800 and $3,500 per month. Thirty-three units are earmarked affordable, starting at over $1,500.

The Slater Avenue project will include a 2,000-square-foot outdoor dining area and a 1,660-square-foot art gallery. A six-level parking garage will contain 541 vehicles.

A new 5,000-square-foot restaurant will take the place of Silky Sullivan’s, an Irish pub across the street from City Hall that for decades has served as a town center. Construction, slated to begin in about eight months, will require demolition of Silky’s and two office buildings.

“This place has been generating tax revenue for Fountain Valley for 38 years,” one patron lamented. “Where’s the loyalty?”

However, Councilman Glenn Grandis noted, Silky’s owner Bill Madden “sold his property willingly” to the developer for $2.4 million two years ago. Madden now has a lease that’s up in January.

The state requirement mandates Fountain Valley zone for 4,839 new housing units, with 2,093 reserved for very low income to low income households, to help alleviate a housing shortage.

Peggy Tabas, managing member of Slater Investments, said Fountain Valley is no longer “the place for a starter home.”
“It used to be, in the ’70s, but those days are gone,” Tabas said. “If you want an affordable house, you’re going to have to go out to the Inland Empire first and work your way up to Fountain Valley.”

[Orange County Register] – Dana Bartholomew

[contact-form-7 404 "Not Found"]
Read more
  • Shuttered OC hospital eyed for affordable senior housing
  • DJM, Fortress gets pair of OC retail centers in California splurge
  • In Orange County, pushback over state’s homebuilding goal

The post “Too tall” apartment complex approved in Fountain Valley appeared first on The Real Deal Los Angeles.

Powered by WPeMatico

  • 12 April 2022
  • The Real Deal
  • Uncategorized
  •  Like
Mosser Capital adds workforce housing in LA, Bay Area →← Push for rent control in Pasadena
  • Recent Posts

    • Is CEQA win first shot at a broader overhaul for resi market?   July 5, 2025
    • Hankey finances bargain-bin hotel buy near SF’s Union Square July 3, 2025
    • Industry group flails as CEQA adjustments hit California builders unevenly July 3, 2025
    • Orange County office tower sells for discounted $19M July 3, 2025
    • City to deploy $425M of “mansion tax” money in record spending plan July 3, 2025
  • Recent Comments

    • Archives

      • July 2025
      • June 2025
      • May 2025
      • April 2025
      • March 2025
      • February 2025
      • January 2025
      • December 2024
      • November 2024
      • October 2024
      • September 2024
      • August 2024
      • July 2024
      • June 2024
      • May 2024
      • April 2024
      • March 2024
      • February 2024
      • January 2024
      • December 2023
      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      137 North Larchmont
      Los Angeles, California 90010
      +1 213-427-1127

    © 2025 GPAM