REAL ESTATE

Property Co. of America is building the first residential units in the Irvine Business Complex, a 403-unit apartment complex called The Charter . . . SDC Development Corp. in Newport Beach bought 31 acres in Corona for $9.8 million from Centennial Group and began construction of a 500,000-square-foot retail and industrial center, to be called McKinley Freeway Commercial Center . . . Cardinal Development said it bought three acres at 401 E. Imperial Highway in La Habra for $1.5 million from La Habra Sentry and said it would level a bowling alley to make room for a center for retailing auto supplies . . . The Nadel Partnership of Costa Mesa was selected by Hutton Development Co. Inc. to design its 1 Hutton Center Drive, a 12-story office building in the 46-acre Hutton Centre business park in Santa Ana.