Decron to Celebrate Grand Re-‐Opening of River Ranch Apartments
Decron to Celebrate Grand Re-Opening of River Ranch Apartments
Simi Valley Apartments Provide Much Needed Quality Housing for the Middle Class
Simi Valley, Calif. – January 20, 2015 – Decron Properties Corp., a diversified real estate investment, development and management firm based in Southern California, will celebrate the grand opening of the newly renovated River Ranch Apartments with a ribbon cutting ceremony at 5:30 p.m. on Tuesday, January 27.
Simi Valley Mayor Bob Huber and City Manager Eric Levitt will join Decron Chief Executive Officer David Nagel in the ceremonial ribbon cutting for the community, which features 397 apartment homes. The community has undergone nearly $14 million worth of interior and exterior renovations since Decron purchased the community in October 2012 for $70 million.
“River Ranch epitomizes our commitment to generate value for the neighborhoods we serve, the great people who work for Decron Properties and our investors,” Nagel says. “With the renovation of River Ranch, we are helping Simi Valley meet its growing demand for quality apartment communities with lifestyle enhancing amenities at rents that middle class families can afford.”
According to a recent analysis reported in the LA Times, Los Angeles, which has a median rent of 47.9 percent of median income, has the least affordable rents in the country. A 45-minute drive from downtown Los Angeles and Pasadena, Simi Valley offers lower rents as well as convenient commuter access to the urban centers of Southern California. During the grand re-opening ceremony, Nagel, Levitt and Huber will discuss the role Simi Valley plays in fulfilling Southern California’s growing need for middle class housing.
“Apartments in Los Angeles, Pasadena and other urban centers in Southern California are pricing the middle class out of the market, so there’s growing demand for quality apartment housing in beautiful suburban cities like Simi Valley,” Nagel says. “The community is perfectly positioned to provide desirable housing that meets the needs of these families, and we’re pleased to play a role in that effort.”
Located at 1518 Patricia Ave, River Ranch offers easy access to popular dining, entertainment and shopping destinations. Within minutes of the community are the Rancho Simi Community Park, numerous restaurants and shops at Simi Valley Town Center and several elementary, middle and high schools.
Among the renovated amenities residents of River Ranch enjoy are a state-of-the-art fitness center, an upgraded clubhouse with communal kitchen and large-screen entertainment center, two pools and spas, and brand-new playground equipment. Inside the Simi Valley apartments are upgraded cabinets and countertops, wood vinyl flooring throughout, modern lighting accents, new appliances as well as washers and dryers inside each apartment home.
With the addition of River Ranch, Decron Properties currently owns and operates 32 apartment communities, representing approximately 6,000 apartment homes, in the Los Angeles market.