Affordable Housing Money Comes to Coachella

Affordable Housing Money for Coachella comes courtesy of County Supervisors

RIVERSIDE – The Riverside County Board of Supervisors on March 14 unanimously approved spending $1.3 million to build 108 new affordable apartments in the City of Coachella.

The money will go to Chelsea Investment Corporation for the Tripoli Affordable Housing Project located in Coachella. The Tripoli Apartments will add 108 apartments on approximately 2.8 acres of vacant land at 51-392 Cesar Chavez St.

The county’s $1.3 million commitment, which comes from the county’s HOME funds, is in addition to $1 million that the county approved last year, also from HOME funds. Riverside County is contributing $2.3 million total in funding support for this future housing.

“Affordable housing is so hard to fund,” Coachella Mayor Steven Hernandez told Uken Report. “Funding requires multiple partners at all levels of government and the private/nonprofit sector coming together to get things done. Housing is a human right. Everyone deserves a safe place to lay their head at night to wake up and thrive in the morning. We are committed to doing more in Coachella. And beautiful affordable housing too.”

The mayor said the $1.3 million is small slice of a $61 million development pie.

In addition to the HOME funds, other Proposed Project financing sources include approximately $31,300 from Federal Low Income Housing Tax Credits, $13,568,850 in the form of a soft
loan from the City of Coachella, $7,974,034 in permanent financing from Banner Bank,
$4,045,000 from the California Department of Housing and Community Development Infill
Infrastructure Grant Program, and Inland Regional Center Community Resource Development
Plan funds in the amount of $1,360,000. The total cost of development during the permanent
financing period is approximately $61 million.

“Riverside County is a partner in the development of affordable housing developments such as the future Tripoli Apartments, and many others,” Supervisor V. Manuel Perez said in a statement. “When Riverside County commits these funds, it helps secure the other funding that’s needed to make these happen and build housing for residents and our communities. Affordable housing is really needed, when there are people in a situation of homelessness, when individuals and families struggle to afford rent, and when people live in housing that’s unsafe or dilapidated or lacks infrastructure such as clean water. Riverside County’s major role and commitment helps affordable housing get built so people have keys to a place that is safe, secure and stable, and our communities, our valley and our county benefit.”

Supervisor Perez has emphasized housing and infrastructure as goals for this year and building out housing, so residents have better living conditions and access to housing.

This year, Supervisor Perez and County Supervisors have contributed money to advance future housing, including:

• $6.7 million in American Rescue Plan Act (ARPA) funding for the Palm Villas at Millennium Housing Project in Palm Desert. Palm Villas is a two-phase, 241-apartment community in the City of Palm Desert, located on Gerald Ford Drive between Cook Street and Dinah Shore Drive, and will be built by Palm Communities.
• $2 million for the Avenue 44 Apartments Housing Project in Indio, funded by the county’s Permanent Local Housing Allocation (PLHA). This housing community will bring about 180 apartments at Avenue 44 and Golf Center Parkway in the City of Indio, and will be built by Pacific West Communities, Inc.
• The county also accepted an additional $5.5 million for the Palm Springs Navigation Campus, which will provide 80 housing units and wraparound services as a comprehensive approach to address homelessness.