AFFORDABLE HOUSING OPPORTUNITIES
State Redevelopment Law requires redevelopment agencies to set aside 20% of their gross tax increment -- their revenue -- each year for the purpose of developing or rehabilitating low and moderate income housing in the community. The City of Palm Springs has had an aggressive affordable housing program, given the relatively small housing budget. The Community Redevelopment Agency looks for projects that maximize the leveraging of other private, state and federal resources to ensure its money provides the maximum number of units for the community. Click the following link for Affordable Housing Opportunities or click on the image to the right.
Affordable Housing Opportunities
Affordable Apartments in the City of Palm Springs
Affordable Housing LocatorIncome Guidelines
AFFORDABLE HOUSING PROJECTS UNDERWAY
Rosa Gardens ApartmentsCoachella Valley Housing Coalition is currently developing a 57-unit family apartment project in the Desert Highland Gateway Estates neighborhood. The project is funded with a combination of public-private partnership -- Low Income Housing Tax Credits, MHP and HOME funds with CalHFA Bonds for construction financing and U.S. Bancorp, Wells Fargo Bank and Rabobank, as well as $1.6M in Community Redevelopment Agency funds. The overall building design and materials are 20% above CA Title 24 energy standars. Green Building practices and energy-saving designs have been incorporated.The project will cost approximately $18.9M to construct. All of the units will be restricted to low-and very-low income residents. The Agency per-unit subsidy would be about $28,000.
Indian/San Rafael Moderate Income Townhomes The Community Redevelopment Agency is in an Agreement with Community Dynamics of Santa Monica to design, entitle and construct a new residential community on an Agency-owned 3.63-acre parcel at Indian Canyon Drive and San Rafael Road. These 52 townhomes will be sold to moderate income families, a population that comprises a significant portion of the City’s workforce. The proposed project incorporates an aggressive green building program which addresses the Agency’s desired energy savings, water conservation, indoor air quality and recycling objectives and which would exceed Title 24 standards, featuring photovoltaics to power the common area improvements, as well as sustainable design utilizing plants native to the Coachella Valley, drip irrigation and inorganic materials like decomposed granite, cobble and boulders to reduce water usage. The proposed project will be 100% affordable to moderate income families, using down payment assistance plus other State programs to reduce the effective mortgage for buyers under 120% of median income. The average Agency subsidy per affordable unit – and all the units would be affordable – would be $58,462.
COMPLETED AFFORDABLE HOUSING PROJECTS
Coyote Run II Apartments. This project was built on a six acre site adjacent to the existing Coyote Run I Apartments, a national award-winning complex consisting of one to four bedroom units for very low and low income households. The apartment expansion, completed in September 2006, provided 66 units of affordable housing for low income families. The land was previously owned by the City as a remainder parcel from the original Fredericks Development project (Sunrise Norte) and conveyed to the Coyote Run project. The Agency worked with the Coachella Valley Housing Coalition to construct the new expansion. The Agency's contribution was about $1,700,000.
Rick Weiss Apartments. Developed by McCormack Baron Salazar, Inc. of Los Angeles, in partnership with Desert AIDS Project, the 80-unit Rick Weiss Special Needs Apartments serves a low income HIV/AIDS special needs population. The Agency acquired the original parcel in 1976 and held it for affordable housing, which became the Vista Serena and Vista Del Monte Co-ops. Those projects left a remainder parcel of 1.23 acres, which became part of this site. Units are studios and one-bedrooms for individual transitional housing and permanent housing for patients and their families. These apartments are envisioned to be a combination of affordable housing, social service facilities from the Desert AIDS Project, and health care provided by the County of Riverside Family Care Center. The apartments opened in early 2007. The Agency contributed approximately $2,000,000 in land and cash toward the project, and faciliated the development of the Family Care Center on the same campus by undertaking the construction of all the off-site improvements along Vista Chino Road and Sunrise Way. The Family Care Center opened in March, 2008.
Cottonwood/Chuckwalla Single-Family Homes. Nine homes were built in 2002 for low income households by the Coachella Valley Housing Corporation under their self-help housing program. There are three single family units and six townhouse units. The Ageccy provided approximately $300,000 in funds for the project. These homes have a low income covenant of 45 years.
Desert Highland Single-Family Homes. The Agency assembled a total of 12 single-family lots from the Coachella Valley Housing Coalition and the County of Riverside to facilitate development of single-family homes. Century Homes constructed the first five homes, which are affordable to moderate-income households for duration of at least 45 years.
Vista Del Monte Senior Housing. Palm Springs has a large population of retired senior residents. Vista Serena Co-op, completed in 1998 with 59 units, and Vista Del Monte Co-op, completed in 2001 with 52 units, are affordable to very low income seniors and financed with HUD Section 202 funds. The City sold 2.72 acres of land at a subsidized rate to Vista Chino Senior Housing to finance the project. The affordability covenant on this project runs until 2026.
La Ventana Apartments formerly Heritage Apartments. This 136-unit apartment complex for mature adults was in need of significant property repairs. The City entered into an owner participation agreement in 2000 to provide $450,000 in LMIHF funding in exchange for a covenant that 68 units will be reserved for low and moderate income households. The affordability covenant lasts for a period of 25 years and will end in 2026. Improvements included constructing a new block wall and security gates, new air conditioning, rebuilding stairways, repaving the parking lot and resurfacing the swimming pool and spa. The owner matched the Agency’s funds in interior improvements.