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6/25/21
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Community Housing Opportunities Corporation (CHOC), a non-profit affordable housing developer, has been awarded $22.6 mil of financing to begin construction of the Coachella Valley Apartments, which will bring new affordable housing units to Coachella.
The development, which has a total cost of $35.3 mil, initially replaces 20 existing units and adds 36 new units on 2.97 acres at 84900 Bagdad Ave in Coachella. The 56-unit project, which will include one-, two-, and three-bedroom apartments, is expected to break ground in December. CHOC’s efforts, along with the support of its funding partners, will ensure the property is no longer at risk of being converted to market-rate apartments and remains affordable to the families who need it most. It is the second affordable housing project CHOC has announced in the Coachella Valley this year.
“CHOC has long focused on the housing needs of struggling families in the Coachella Valley and remained focused on this region even as the global pandemic presented unforeseen challenges,” said Vincent Nicholas, Vice President of Real Estate Development for CHOC. “This funding comes as part of a highly competitive process, and CHOC’s ability to provide a high-quality, high-impact solution to the growing housing shortage in desert communities has proven a worthwhile investment for Californians.”
The award was announced by the California Tax Credit Allocation Committee (CTCAC), which oversees federal and state low-income housing tax credit programs. Much of the project’s remaining costs are funded by a $5 mil Joe Serna Farmworker Grant, a program that deploys funding to support housing for farmworkers and their families in rural areas. Additional project costs are supported by $1 mil in Riverside County HOME Funds, a $3.8 mil City of Coachella CFD loan and USDA Rural Development financing.
Designed by Maria Song, AIA, LEED & AP, principal with the Palm Springs-based architectural firm Interactive Design Corporation, the project shares many of the same design elements of the recently built Coachella Branch Library. The structures are designed in a Contemporary Spanish Colonial with Moorish details of smooth plaster siding, terra-cotta roofing, ceramic mosaics, tile-accented rounded arches, and decorative wrought iron. The architectural style and finishes will be seen throughout all residential buildings, the community building and landscape and are compatible with the character of the neighboring community.
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