Six residential development projects representing a total of 803 new affordable homes for the Coachella Valley will go forward with the help of significant tax credits approved Wednesday, a boost for efforts to expand economic opportunities and create more housing residents can afford.
The California Debt Limit Allocation Committee, or CDLAC, approved $254 million in tax credits for projects in Indio, Coachella, Palm Desert, and Rancho Mirage. Three of the projects received funding through We Lift: The Coachella Valley’s Housing Catalyst Fund, a low-interest revolving loan fund for affordable housing development overseen by Lift to Rise and partners. All six projects are supported by the Lift to Rise collaborative.
Construction on each project is expected to begin within the next six months.
“Having this many affordable housing projects under construction in the Coachella Valley at the same time is unprecedented,” said Kenny Rodgers, deputy market director with the Low Income Investment Fund, or LIIF, and manager of the We Lift housing catalyst fund. “Historically, it was a lot to see two or three projects going up at once. But with these six and other developments already moving forward, we expect at least nine affordable housing projects across the Coachella Valley to be under construction in 2025.”
Since 2021, the We Lift housing catalyst fund, with more than $44 million in capitalization from local government, state, and private funders, has committed more than $26 million in loans to help build almost 900 units of affordable housing in the Coachella Valley. Partners in the fund include Lift to Rise, Riverside County, RCAC, and LIIF. Significant contributions to the fund have come from Riverside County through Supervisor V. Manuel Perez and a state of California budget allocation directed by Assemblymember Eduardo Garcia.
The fund is a significant contribution to helping the Lift to Rise collaborative meet its 10-year goal of building 10,000 new affordable housing units by 2028 and reducing regional rent burden by 30%. In addition to the catalyst fund loans, the collaborative supported the projects receiving the tax credits through actions including letters of support, mobilizing resident advocacy, and technical assistance with local governments and developers.
A new article in the influential Stanford Social Innovation Review describes the We Lift housing catalyst fund as “a compelling model for how to shift the power balance in community development” by centering the community.
Details on the six Coachella Valley projects awarded tax credits are below. Including these, CDLAC awarded credits to 11 projects in Riverside County with a combined 1,529 units.
| Project | City | Number of Units | Developer |
| Avenue 44 Apartments | Indio | 180 | The Pacific Companies |
| JFM Villas Family Apartments | Indio | 100 | Coachella Valley Housing Coalition |
| JFM Villas Senior Apartments | Indio | 50 | Coachella Valley Housing Coalition |
| Villa Verde | Coachella | 116 | Abode Communities |
| Palm Villas at Millennium | Palm Desert | 121 | Palm Communities |
| Via Vail Village | Rancho Mirage | 236 | The Pacific Companies |