Community Housing Opportunities Corp. has broken ground on Placita Dolores Huerta, a 110-unit affordable housing community in Coachella, Calif. The nonprofit housing developer dedicated the project to the social justice icon and Presidential Medal of Freedom recipient Dolores Huerta, who was present at the groundbreaking event.
The California Tax Credit Allocation Committee provided $22.6 million in construction financing. Additional funding includes $1 million in Riverside County HOME Funds, a $3.8 million City of Coachella CFD loan, as well as financing from USDA Rural Development.
The first phase of the development will combine ground-up construction with the demolition of the existing housing structures. This initial project component is slated for completion by the fall of 2023. At full buildout, the community will have 110 one-, two- and three-bedroom units that are financed to remain affordable for 55 years.
An affordable community in the heart of Coachella
Designed by Maria Song, AIA, LEED & AP, Principal with Interactive Design Corp., the structures incorporate a Contemporary Spanish Colonial style, resembling the architectural elements of the recently built Coachella Branch Library.
Located at 84900 Bagdad Ave., the community will be less than half a mile east of Bagdouma Park and less than a mile southwest of Coachella Veterans Memorial Park. Several shopping, dining and entertainment options will be available within a 1-mile radius.
Last November, CHOC broke ground on Monarch Apartment Homes, a 60-unit affordable community in Palm Springs, Calif. Song is also part of the design team for this project, which is Palm Springs’ first affordable endeavor in 12 years and is scheduled for a January 2023 delivery.
The post CHOC Breaks Ground on Inland Empire Affordable Community appeared first on Multifamily Real Estate News.
Gillian Executive Search is a leader in Affordable Housing Development, Financing, Design and Construction recruiting. www.gessearch.com