Apartments Renovated, Modernized as Condos

The new recreation center has been opened and formally dedicated at Cameo Woods, a rehabilitation and conversion project that turned a run-down apartment complex of the 1950s into 384 modern condominium units in 29 two-story buildings on 24 acres at La Cienega Boulevard and Rodeo Road in the Blair Hills area of Los Angeles.

The run-down apartments were stripped to the studs and foundations and completely rebuilt by the Hotel Del Coronado Corp., which bought the property in 1979. The Community Redevelopment Agency assisted in many ways, including the provision of bond financing that enabled buyers to be offered below-market-rate financing.

The agency also funded totally the recreation building. Other recreation facilities available to homeowners include a swimming pool, two spas, a tennis court and three children's playgrounds. Prices begin at $75,950 for one-, two- and four-bedroom units in four floor plans, with long-term, fixed-rate loans at a qualifying rate of 7.95%.

Those participating in the dedication and sealing of a time capsule included Mayor Tom Bradley's representative, Lloyd Raikes; Councilwoman Pat Russell, in whose 6th District the project is situated, Edward Helfeld of the redevelopment agency and Robert Friedman for the Hotel Del Coronado Corp.

Model homes, furnished and decorated by Robert Minnix & Associates, are open daily from 10 a.m. to 5 p.m.

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