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THOUSAND OAKS, CA-PCS Development Inc., a Los Angeles-based developer and owner of apartment complexes, has opened its $20 million, 120-unit The Premiere of Thousand Oaks luxury apartment project on a four-acre site in this Los Angeles suburb.

The new complex is at the northwest corner of Conejo School Road and Los Feliz Drive. Designed by Togawa & Smith Architects Inc., it features a theater screening room, a fitness center, below-ground parking, and a landscaped courtyard with swimming pool, spa and fountain.

Rents range from $1,295 a month for a 661-sf one-bedroom apartment to $2,155 a month for a 1,233-sf two-bedroom apartment. All of the units are equipped with washers and dryers and walk-in closets. PCS has 22 of the units completed now and will offer the remaining 98 by the end of the month.

The project was built by PCS Development’s own construction division,PCS/Cal-Mor, and the company’s property management division, PCS Property Management, will oversee the leasing and management.

The Thousand Oaks property joins a number of other apartment complexes that PCS owns that bear the Premiere name, including properties in Sherman Oaks, Calif.; Woodland Hills, Calif.; and Beverly Hills.

PCS expects to begin construction this month on another Premiere apartment project, a 221-unit development called the Premiere at CityPlace that will be built above retail space now under construction at the eight-square-block, $75 million CityPlace development in downtown Long Beach. The company estimates that construction will take 14 months and that most of the retail space will be completed and leased by the time the apartments are finished.Founded by Paul Jennings, the company’s CEO, PCS buys, builds and manages luxury apartments throughout Southern California. The company employs more than 100 workers, owns more than $250 million in assets, and generates annual revenues of over $25 million.

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