The Los Angeles Times from Los Angeles, California • 114

and Associates of Newport Beach. Fannie Mae Mortgage Purchases Set Record XiVn the' construction of a student health center, announces campus architect Coulson Tough. A dispensary. Infirmary and counseling center for enrolled students is planned at an estimated cost of $807,000. At its last meeting the Board of Re- gents approved loan of $595,000 for 25 years from university reserve funds.

The remainder and repayment of the loan will come frofn student fees. Architects for the center, scheduled for completion in April of 1968 are Ellerbroek, Koteles, Fox UC Irvine to Open Bids for -Center Irvine expects to open bids on April 1 for i 1 Staji i'lX ttftnmi i iir The 'annual total consisted of 129,077 FHA-ln-sured mortgages for and 32,158 VA-guaranteed mortgages for $443,500,000. Almost 38 of the purchases were made in; the first quarter 1968. "The association's volume of mortgage" purchases during the year reflected the extremely 'tight money' conditions of the period," Gilbert said. However, the mortgage purchases furnished a substantial measure of relief for home financing, he pointed out.

He noted that market activity of the past quarter continued at a fast pace but below the buying rates of the third quarter and late 1965 which he said, "Probably reflects a combination of a conditions. Situation Easing Faced with 'tight home buyers and sellers have deferred their transactions until interest rates and charges decrease. "However, an easing trend now appears imminent with reports of an increasing availability of mortgage funds," Gilbert said. Also, he concluded: "FNMA's secondary market operations can continue to assist home financing through the use of some $3.75 billion in funds made available under new borrowing authority granted in legislation last year." 'f 'I 1 1 mil EMBARCADERO CENTER View of $125 million pre-planned addition to San Francisco's financial district shows 60-story tower; largest hotel, right background; entertainment district; two-level pedestrian mall, and 45-story office building, right. limited number of new, choice lots open this weekend at 'Brentwood Wis Fabulous Brentwood Hills Is offering a limited number of add! tional choice lots to homebuyers with an instinct for investment As one of the last remaining parcels of prestige property avail able in the exclusive Brentwood area, property values here will appreciate rapidly as the years go by.

You can now select from a wide variety of custom homes 'to be constructed on the lot of your choice. But you must act now! The number of new lots is limited and they will be going fast wise investors get the news. Come out this weekend and get on another Swartz-lMIetter property value bonanza in distinctive Brentwood Hills. INTRODUCTORY PRICES FOR HOME AND LOT START AT APPROXIMATELY 955000 Brentitood Hills Fins Homes of Distinction A SWARTZ-UNKLETTER COMPANY DEVELOPMENT Please bring map with you as signs in this exclusive area are limited Phone 472-1089 'Rockefeller West' Waifs S.F. Okay Continued from First Page Architects Appointed for Sears in Coyina The firm of Schoenwald, Thomas, Harris, Bode Blayney of Fresno has been appointed to design the Sears, Roebuck and Co.

retail store to be built in Covina, announces G. A. Scherquist, Sears territorial construction manager. The full-line retail store will be built on a 36-acre site at Azusa Ave. and Arrow Highway.

The Federal National Mortgage Assn. acquired 161,325 mortgages for $2,08 billion last year, a new one-year record and twice the previous high set in 1957 when the association bought 86,597, jnortgages for $1.02 1 Harry M. Gilbert, FNMA executive vice president, made the disclosure this i The purchases were made under Fannie Mae's secondary market operations provisions. Mortgages covered 46 states, the District of Columbia, Puerto Rico and the Virgin Islands. Homes Open in Orange County New America Homes opens In Orange County today, Roseglen Construction Inc.

president Richard Cavanaugh announced. "These are truly something different," said Cavanaugh. "They have new design concepts which are a departure from the usual architecture, and still In the low price range." He said the homes, with three and four bedrooms and two baths, are priced from $20,450 to $23,250, with full title to land. The lots are 60 by 120 feet. The designs, created by Leonard include a model "so designed as to get total utilization of the space and allow for adding rooms In the future," Cavanaugh said.

New America Homes Is reached via the Santa Ana Freeway to the El Toro turnoff at El Toro, then northeast about one mile to the furnished models. I llflA I Antpf VIYIt vUlllVsl Start Fixed LA PALMA Work on the $400,000 civic center la expected to get under way by summer, according to City Manager Burton Wesenberg. The center will be developed on a 3.5-acre site on Walker just north of La Palma Ave. Plans call for a center to include council chambers, administrative offices, a police station with overnight jail, a future fire station, public works office and storage and a county branch library. The center Is being planned by the firm of Tom Trusker of Anaheim.

Students Will Hear Story of One Wilshire CAMBRIDGE, Mass. At the special invitation Of the Harvard Business School, S. Jon Kreedman will give a step-by-step, case study of his $25 million, 30-story One Wilshire Building in downtown Los Angeles before students at the campus here on "Monday. The presentation by the financier and builder of One Wilshire, largest independently owned office building in Southern California, now nearing com-pletion, will detail all phases of the project 1 i SATHSl New America If (f tlmm est of the center's buildings would ruin the view fs, 'W Pf 1 CONFERENCE SET FOR ARROWHEAD Contract documents: are they tools, toys or tyrants? The 6th annual Conference for Educators, Architects and Contractors will consider the question March 12-14 at the Lake Arrowhead University of California Residential Conference Center. Donald D.

Cunliffe, deputy business manager (retired) for the Los Angeles Unified School District, and George Wakefield, chief assistant. County Coun-: sel, Los Angeles, will address the conference on Contract Documents-Some Tyrants We've Known!" High Volume Buying Cuts Home Costs "Kaufman and Broad's size and experience enables them, through mass buying power, to purchase materials at a savings, making it possible for the home buyer to enjoy a luxury home at reasonable cost," reports Jack Scougall, vice president of the firm. "This Is demonstrated at Devonshire Place," Scougall says, "where the San Fernando Valley the buyer may enjoy the spaciousness of an estate home with the luxury items he expects in a contemporary Prices range from to $28,990 for the one to four bedroom units. 2 of the bay from Telegraph Hill. Nob-Hill and from Hill, Nob -Hill and from other high rise buildings.

"There will be some hot fights on that jane," pre-dicted Mayor John F. Shelley. Portman maintained however that the knifelike skyscrapers are specifically designed to preserve the view from elsewhere. Pletro Belluschi, architecture dean 'emeritus of the Massachusetts Institute of Technology and a consultant on the design, said he was at first skeptical of the number and size of buildings to be placed on a site encompassing only 8.5 acres of land. More Skyicrapers But he said he concluded that the great height is a financial necessity.

"You had better face up to it that there will be more tall buildings in San Francisco," said Belluschi at a press conference. The center would be located at the northeast end of Market Street separated from the old Ferry Building at the waterfront by Embarcadero Plaza, a small park to be installed by the city. The 45-story office building would be constructed first. Developers said they hope to start construction next falL The entire complex will take six years or more for completion, 11 I Vh Wu'2 Di EL 1 i a 3 STORIESI IONUS ROOMSI All CONDITIONING HKEFUCESI NEW PATIO RTCKENSt SitMlUshttlStwanlaMOtUFtt! LC3ATZCZ12! 3 mi (k rM i K3 DCS FKA oxpo (K) 15 i 7H4C rjWtJFT WTO TMft JH BTGO 6 HATt mtiiAvs the mlidaie tu- CT. ThfOL'SH HEWHAU AND F0U0 TE oj to eocQuu UAroa axo amwcam SOIOE STATE FHEEWAYJ TO THE PAROUS TUSH0F.

AT S'f HlCKWAY TO IME. BAD CANYOU Tl turn un a MU TO AMUicAN luurt homes. Ventura Freeway (101) to Seaward Avenue turnoff. Follow the signs to uzeautu v. 1044 Peninsula; phone (805)' 64S.6S75.