An affordable housing project set to break ground later this year in Coachella was awarded $22.6 million by the state through a federal tax credit program, it was announced Tuesday.
The 56-unit Coachella Valley Apartments project is proposed for 84900 Bagdad Ave. on 2.97 acres. Twenty existing units will be replaced prior to 36 new units being constructed, according to Northern California-based affordable housing developer Community Housing Opportunities Corporation, which is spearheading the project.
“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.”
Construction on the $35.3 million project is expected to begin in December.
The developer intends to build apartments spanning one, two and three bedrooms.
This is the second CHOC project in the Coachella Valley to be awarded federal tax credit program funding in recent weeks. In April, the developer announced the 60-unit Monarch Apartment Homes in Palm Springs had received $21 million. That $29 million project — slated for the southeast corner of North Indian Canyon and San Rafael drives — will be the first affordable housing complex to break ground in Palm Springs in 12 years.