Through the We Lift: Coachella Valley Housing Catalyst Fund, LIIF and partner Lift to Rise each provided Affirmed Housing half of the capital for two loans supporting their planned affordable housing community in Palm Desert:
- A $5.76 million acquisition loan to purchase a 7.75-acre parcel.
- A $750,000 predevelopment loan to fund final architectural and engineering plans, plan-review fees, and building permits.
Palm Desert Family Apartments will comprise 298 units for community members earning 30%-70% of the area median income (AMI). Affirmed Housing is partnering with Compass for Affordable Housing on this project; both are based in San Diego.
Together, LIIF and Lift to Rise are deploying flexible, below-market capital to catalyze affordable housing production in the region. Since launching our partnership, we’ve jointly deployed over $24 million, supporting 1,028 affordable homes across the Coachella Valley.
Palm Desert Family Apartments will comprise 298 units for community members earning 30%-70% of the area median income (AMI).