Today was the ribbon-cutting for Palm Springs’ Aloe Palm Canyon Apartments, a brand-new, 71-unit development that is now home to those aged 55+, with 25 units for seniors formerly experiencing being unhoused. With one-bedroom apartments available to households in the 20%-80% area median income (AMI) range, Aloe Palm Canyon is a major step in tackling the Coachella Valley’s critical shortage of affordable housing options. To ensure lasting affordability, 69 of the 71 units will carry long-term rent restrictions.
At the celebration of this community win, LIIF Deputy Director, Coachella Valley Kenny Rodgers spoke of our organization’s early-stage, acquisition financing and catalytic construction capital loan of $10 million — all in support of jumpstarting the project. This financing was done via our strategic regional partnership with Lift to Rise. Kenny explained the project’s vision for the Valley’s seniors to be able to age in place with dignity.
The event also featured remarks from Mayor Ron deHarte, Palm Springs City Council members, City Manager Scott Stiles, Riverside County officials, project developer West Hollywood Community Housing Corporation and community partners.
Aloe Palm Canyon will have a community feel. The ground floor offers a variety of amenities centered around an inviting outdoor open space, plus residents can enjoy a community room equipped with demonstration kitchen, computer room/library, fitness center, laundry facility and off-street parking.
Speech by Deputy Director, Coachella Valley Kenny Rodgers
“It’s an honor to stand here today at the ribbon-cutting for the Aloe Palm Canyon Apartments. This project represents not just bricks and mortar, but vision, perseverance and deep collaboration. I love to see dirt turn to doors and, today, we’re celebrating just that.
“LIIF, in partnership with Lift to Rise, proudly provided a $10 million construction loan for this development, which led to over $1 million in project savings. I don’t mention the numbers to talk about how impressive the costs are; I mention the numbers out of love. The reality is, these things are not inexpensive to construct. It’s for this reason I’m so proud to be part of an organization that can help reduce the cost and fill in gaps in mainstream financial markets. The $1 million in savings generated by the We Lift: The Coachella Valley’s Housing Catalyst Fund loan may not seem like much for a project over $30 million, but that $1 million meant developer West Hollywood Community Housing Corporation (WHCHC) didn’t have to reduce the quality of appliances, could maintain the floor-to-ceiling views and could ensure beautiful landscaping. That matters.
“We proudly provided construction financing to this project with our friends at First Citizens Bank. We were also happy to be accompanied to the closing table by our partners at JLL, who brought permanent financing to this project.
“In addition, LIIF made two other loans: an acquisition and predevelopment loan totaling $1.56 million; and a $1.035 million Federal Home Loan Bank Affordable Housing Program subsidy.
“WHCHC partnered with the City of Palm Springs, Riverside County, the State of California, and our good friends at DAP Health to bring this vision to life. This project was one of the first three added to the City’s housing pipeline, and Palm Springs continues to lead as a model city for affordable housing.
“The We Lift: The Coachella Valley’s Housing Catalyst Fund is the part everyone sees — the dollars, the deals — but the real credit goes to the people behind the scenes. The ones who make phone calls, show up to council meetings and push with state officials to get final sign-offs. The ones who believe.
“Let’s give a round of applause to those believers: District 4 Supervisor V. Manny Perez; former Assemblyman Eduardo Garcia; every Palm Springs City Council member since 2020; and, most importantly, the residents of Palm Springs. Those believers trusted in the vision of the Catalyst Fund. They believed in it enough to put political and real capital into the vision. And it’s good to be in a community that supports developments like this. A community that looks after its seniors. This is what is meant by a sense of community.
“As we cut this ribbon today, let it also be a call to action: Let’s keep building. Let’s keep collaborating. Let’s keep lifting. Because every door we open is a step toward a more just, inclusive and thriving Coachella Valley. In American Sign Language, the sign for ‘house’ is a structure, but ‘home’ is where you eat and sleep. Let’s keep building homes.”
Every door we open is a step toward a more just, inclusive and thriving Coachella Valley.
LIIF Deputy Director, Coachella Valley Kenny Rodgers