Coachella Valley Housing Coalition secures financing to build and rehabilitate apartment homes for seniors in La Quinta, Calif.
The Coachella Valley Housing Coalition (CVHC) is proud to announce that it has secured the necessary financing to begin construction and rehabilitation of 140 single-story apartment homes for seniors in the City of La Quinta, California. The California Tax Credit Allocation Committee awarded $28,781,988 in federal/state tax credits to rehabilitate 72 existing apartment units known as Washington Street Apartments and build 68 new apartment units. Construction is slated to begin in March, 2018 and is projected to be completed by November, 2019. The project will begin with new construction of 68 units followed by the rehabilitation of the existing 72 units.
“The lack of affordable housing is so severe in the Coachella Valley region that it threatens the stability of thousands of low-income households. This challenge is even greater for low-income seniors who live on fixed incomes. Despite the competition for financial resources that affect how much we can build, CVHC remains committed to working hard to create safe, decent and affordable housing,” said Julie Bornstein, Executive Director of the Coachella Valley Housing Coalition.
“The City of La Quinta is excited to be partners with a great developer like Coachella Valley Housing Coalition. The Washington Street Apartments Project will bring an additional quality to affordable housing in our great City. These residents have been patient on the refurbishment of their apartments since the City purchased the development in 2008. We are thrilled to be able to move this project forward, “said Frank Spevacek, City Manager of La Quinta
Residents will have access to the two new community rooms. Each room will include a computer learning center, complete with laptop computers, educational software and internet access. The community rooms also provide access to local service providers offering residents services such as healthy living programs, exercise classes, nutrition programs, art classes, and other enrichment programs. Residents can also use the community rooms for special events since each is equipped with a full kitchen with access to an outdoor courtyard equipped with barbecues for indoor/outdoor events and activities. All services will be provided free of charge to the residents. To promote health and fitness, the site features two fitness rooms equipped with treadmills, exercise bikes, exercise balls, pull up/chin up station, abdominal board, exercise bands and exercise mats that will be constructed as part of the community center. Formal outdoor recreation areas include roughly 2 acres of parkway/green belt for recreation and social gatherings, a walking track, a dog park, and two swimming pools. Ample space and free flowing paths provide opportunities for informal social interactions. “CVHC recognizes the need to connect affordable housing with effective resident services programs, which give residents the opportunity to enrich and improve the quality of their lives. Our seniors are now enjoying very active lifestyles and these services will add to their health and fitness needs,” said Javier Lopez, Director of Community Relations at CVHC.