Community Housing Opportunities Corp. (CHOC) will begin construction on a new affordable housing development in Coachella, California, after receiving $22.6 million in financing.
The development, which has a total cost of $35.3 million, will replace 20 existing units and add 36 new units for farmworkers and other working families while ensuring the property will not convert to market rate, according to the nonprofit organization.
“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.”
The Coachella Valley Apartments was among 28 developments to recently receive a reservation of low-income housing tax credits (LIHTCs) from the California Tax Credit Allocation Committee.
The recent round of financing will help create or preserve 1,609 total units, including 1,580 affordable homes. The approximately $49.7 million in federal LIHTCs and $34.9 million in state housing tax credits will support 22 new construction and six rehabilitation projects, reported CTCAC.
Another awardee is the Picayune Rancheria of the Chukchansi Indians, which will use state and federal credits to construct 17 single-family tribal homes in Oakhurst, California. The development will include 13 three-bedroom and four four-bedroom homes as well as a tribal community playground.
The Tribe partnered with Travois, a consulting and architecture firm that specializes in developing housing projects for Native American communities.
