[IMGCAP(2)]Safran & Associates recently completed an extensive renovation and revitalization of both properties that included an expansion and renovation of the community room including a new fitness room, computers, a kitchen, a billiard room and a big-screen television; new in-unit kitchen and bathroom cabinets, countertops, flooring, lighting and paint; new carpet, paint and lighting in the hallways; new extensive landscape enhancement including meandering pathways and arbors; new exterior paint on all buildings; new security cameras; and renovation of the community laundry rooms.
Inglewood Meadows, built in 1976, comprises four residential buildings and one building that holds the community room, the office and a manager's unit. Regent Plaza, built in 1980, is a six-story residential building with attached community room. All of the apartments in both buildings are one-bedroom units.
Safran & Associates acquired both of the complexes in March 2007, paying $17 million for Inglewood Meadows and $8 million for Regent Plaza. The company, which has specialized in developing affordable housing projects for more than 35 years, owns and manages more than 3,000 units of affordable rental housing in California.
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