Inland Empire Affordable Project Receives $23M Funding
- Jun 29, 2021
Community Housing Opportunities Corp. has received $22.6 million in financing for the development of an affordable community in Coachella, Calif. Known as Coachella Valley Apartments, the project will include 56 units for farmworkers and working families. Groundbreaking is anticipated for December.
CHOC’s $35.3 million plan consists of two phases to be completed over several years. The first phase will replace 20 existing units and add 36 new units at 84900 Bagdad Ave.
Coachella Valley Apartments will include one- to three-bedroom apartments. The reimagined community will feature a splash pad, tot lots, barbecue areas and parks. The 1978-built property’s current floorplans include 50 units with two- and three-bedroom configurations, with 20 apartments set aside for low-income households.
Financing & design details
Situated on nearly 3 acres, the development site is in an Opportunity Zone. The project received additional funding in the form of a $5 million Joe Serna Farmworker Grant, as well as a $3.8 million City of Coachella CFD loan, $1 million via Riverside County HOME Funds and USDA Rural Development financing.
Interactive Design Corp. serves as the project architect. Maria Song, principal of Interactive Design Corp., envisioned a contemporary Spanish colonial design with Moorish details. The architectural style is compatible with the character of the neighborhood, sharing design elements with the recently completed Coachella Branch Library, less than a mile away.
Coachella Valley Apartments neighbors the local branch of the Premier Urgent Care Centers of California. The community places residents less than a mile from downtown Coachella and less than 4 miles away from the Jacqueline Cochran Regional Airport.
Heightened construction activity in the Inland Empire has placed the metro among the top markets for multifamily deliveries in California through the first months of 2021. Also in the Inland Empire, CHOC is working on another affordable project known as Monarch Apartment Homes. The 60-unit development is expected to break ground later this year.