Renovated Oakwood to Reopen as Premiere

The firm renovating the old Oakwood apartment complex, the largest such complex closed because of the Northridge earthquake, will hold a ceremony today marking the reopening of the apartments under a new name.

After damage suffered during the 1994 temblor, the complex sat empty and untouched until Public Communications Services bought it in October 1997.

Today, after a $25-million renovation, public officials and PCS Property Management representatives will gather to celebrate the reopening of the complex as the Premiere of Sherman Oaks, located at 4500 Woodman Ave., at Milbank Street. Scheduled to appear at the 2 p.m. reopening celebration are state Sen. Herschel Rosenthal (D-Los Angeles) and City Councilmen Michael Feuer and Hal Bernson.

The Premiere marks the last of about 30 quake-damaged apartment buildings in Studio City, Sherman Oaks, Northridge, North Hills, Granada Hills and Canoga Park developed by PCS, according to company records.

The Premiere has 372 studio and one- and two-bedroom units renting for $700 to about $1,300 per month. Aiming to attract young, busy executives, it includes a business center, putting green, two Jacuzzis, an apartment concierge and an on-site grocery store.