REAL ESTATE DEVELOPMENT

The Monarch Apartment Homes

The Monarch Apartment Homes is a proposed 60 unit affordable housing development on 3.62 acre vacant parcel of land owned by the City of Palm Springs Successor Redevelopment Agency. The property is located at the Southeast corner of N. Indian Canyon and San Rafael Drive in the Upper Westside One Palm Springs Neighborhood. In partnership with the City under a Disposition Development Agreement (DDA), CHOC will develop the land with rental apartments consisting of one, two and three bedroom units.

The project is designed in a contemporary Mid-Century Modern architectural style incorporating sustainable building materials and components to complement the adjacent, historic Wexler Steel Homes and surrounding community neighborhoods. The elevations and renderings depict the architectural style and finishes for the various residential buildings and a community building. The site plan and landscape accentuate the Monarch Butterfly and natural desert plants for this oasis in the desert.

Development Schedule:

1. Entitlement: Approved Feb. 2019

2. Financing: $21MM combined Federal and State Tax Credits; $3.4MM City Land and Affordable Housing Funds, $500K County Funds.

3. Tax Credit Award: April 28, 2021

4. Phase 1 Projected Total Development Costs: $28.8 Million

5. Construction Start: Ground Breaking October 2021

6. Occupancy: Late 2023