State awards $21 million to build Monarch Apartment Homes in Palm Springs
City's First Affordable Housing Complex in 12 years moves forward
(Palm Springs, CA). - Community Housing Opportunities Corporation (CHOC), a non-profit affordable housing developer, has been awarded $21 million to move forward with the construction of The Monarch Apartment Homes, a 60-unit affordable housing community located in Palm Springs. The $29 million complex, which is the city's first affordable housing complex to be built in 12 years, will break ground in the fourth quarter of 2021.
The award was announced on April 30th, jointly by the California Debt Limit Allocation Committee (CDLAC) and the California Tax Credit Allocation Committee (TCAC).
"CHOC has been unwavering and tenacious in pushing this forward in the midst of a global pandemic," emphasized Vincent Nicholas, Vice President of Real Estate Development for CHOC. "It has been a true labor of love totally focused on creating equitable communities throughout the Coachella Valley and this funding pushes this 60-unit development from theoretical to a reality."
The entire CHOC team is thrilled to partner with the City of Palm Springs on the building of The Monarch Apartment Homes - necessary, beautifully designed & economically integrated affordable housing in Palm Springs. Our sincere thanks to Ema Sasic for her Desert Sun story (April 29, 2021).
Read The Hoyt Organization’s press release.
About CHOC: Founded in 1984, the Community Housing Opportunities Corporation (CHOC) is a non-profit, affordable housing developer based in Fairfield, California with offices in Palm Springs; we create and manage equitable communities for individuals, families, seniors, and those with special needs. CHOC believes that economically integrated, affordable housing is key to self- sufficiency and is achievable with enriching, supportive programs that give pride to residents, stabilize families and improve local economies. www.chochousing.org