Apartment Complex Might Be Renovated

A large, run-down apartment complex that is in foreclosure may get a $9-million face lift from prospective new owners.

The City Council voted this week to negotiate with Southern Cal Investment Co., which is seeking a $2-million grant from the city to renovate Parklane Garden Apartments on North Highland Avenue.

The developer would have to agree to keep the rent for 77 of the 255 one- and two-bedroom units at rates that meet the county’s affordable-housing guidelines, said Jack McGee, director of community development for the city.

The city would pay its share of the project out of its federal housing funds, McGee said.

Councilman Dan Slater voted against proceeding with negotiations until the company produces an appraisal and an economic analysis. “My concern is, we’re moving ahead too quickly,” he said.

City officials said the apartments have become a blight and a magnet for crime. At least 80 vacant units have broken windows and are quickly deteriorating.

Barry Cottle of Tustin-based Southern Cal Investment Co. said the company has been trying to acquire the property for 10 years, finally getting the chance when the previous owner went into foreclosure.

“Our plan is to invest a great deal of our own personal money in this,” Cottle said. “We are going to make it a safe and desirable place to live.”

Cottle said the company is hoping to avoid a massive relocation of tenants outside the complex by transferring them to apartments on site as the rehabilitation proceeds.