Ribbon-cutting Ceremony Celebrate Completion of Affordable Housing Development in Downtown Coachella

COACHELLA – To commemorate a new 108-unit affordable housing development in the city, it along with Chelsea Investment Corporation held a ribbon-cutting ceremony on Wednesday m to celebrate the completion of Covalda Apartments.

Formally known as Tripoli Apartments, the $63M project broke ground in June 2023 and includes retail space and 10 units designed for residents with disabilities. The development sits on a 2.8-acre site and supports the City’s Pueblo Viejo Master Plan, contributing to the revitalization of historic downtown Coachella.

“Covalda Apartments builds on a promise we have made to our residents to continue prioritizing accessible housing for them, right here in their city,” said Mayor Steven Hernandez. “This project reflects our deep commitment to creating a community where families can thrive, where our seniors and neighbors with disabilities are supported, and where everyone has access to opportunity. We’re building more than homes — we’re strengthening the hearts of our families and the foundation of our community.”

Funding for this project was made possible through the California Department of Housing and Community Development’s Infill Infrastructure Grant (IIG) program, the Housing Authority of the County of Riverside’s project-based vouchers and HOME program, the California Department of Developmental Services’ Community Resource Development Plan Priorities (CRDP) program through the Inland Regional Center, and the City of Coachella.

“Chelsea is very proud to announce the grand opening of Covalda, the sister development of Pueblo Viejo Villas which we completed in April of 2022, said Charles Schmid, Chief Executive Officer for Chelsea Investment Corporation. “These two developments are more than just buildings – they represent progress for the Coachella community. It’s a reminder that affordability and beauty are not mutually exclusive, and that investing in people pays dividends in stronger, more connected communities.”

The program for the ribbon-cutting event will conclude with a guided walking tour of the affordable housing development.