C
onstruction has started on the Slater Ave Apartments, a 272-unit complex in Fountain Valley. The five-story building will be situated on 3.34 acres at the intersection of Slater Avenue and San Mateo Street, just across from City Hall and the police department. The development includes 33 low-income affordable units, making up about 12% of the total apartments.

    The property's street-facing side will feature a 7,300-square-foot restaurant space, 1,600 square feet for retail, and 15,000 square feet dedicated to amenities such as two pools, co-working lounges, wellness spaces, and open-air gathering areas. The project is expected to take up to two years to complete, with the apartments opening in 2027.

    In related news, Fountain Valley's planning commission will consider two new apartment developments on June 11. Magnolia Fountain Valley, a 657-unit complex, would feature a parking structure, retail space, and a public dog park. The developer has set aside 78 units for income-restricted tenants. Euclid + Heil, another proposed development, would include market-rate apartments, affordable units for seniors, and for-sale triplexes and townhomes.

    Meanwhile, Westport Plaza & Square in Costa Mesa has been sold to Asana Partners for $25.7 million. The shopping center is home to several local businesses, including Plums Café & Catering and Crumbl Cookies. CNI College is also expanding its presence in Santa Ana by leasing 20,839 square feet at Pacific Center.

    R.D. Olson Construction has begun building Vintage Farms, a new apartment "village" in Murrieta featuring 330 apartments across 11 buildings with 15 standalone garages on a 15-acre site. The project is expected to be completed by late 2026. Charlie Farmer has joined BKM Capital Partners as director of Acquisitions & Dispositions, leading investments in high-growth markets across the Central and Southeastern U.S.