Cathedral City, Calif. – After nearly 24 years, National CORE (National CORE) celebrates closing funding for the extensive renovation of Cathedral Palms Senior Apartment Homes, one of the organization’s oldest affordable housing communities, located in Cathedral City, California. “This renovation has been in the works for years,” said President and CEO Steve PonTell. “National CORE has remained committed to finding the necessary funding to maintain the affordability of the housing and the quality of the apartment homes for our senior residents.”
“Finding affordable places to live is a real struggle for too many senior citizens and is among the highest needs of behavioral health clients,” said Riverside County Board Chair and Fourth District Supervisor V. Manuel Perez. “This renovation is a great example of housing that creates stability for those in recovery, helps individuals at risk of homelessness, and provides a better living environment for our seniors. Riverside County is proud to be a partner in the complete renovation of Cathedral Palms Senior Apartments, a significant project for Cathedral City, the Coachella Valley, and the county as a whole.”
“We have been providing supportive services for many years with great success using this model of care,” said Matthew Chang, M.D., director of Riverside University Health System – Behavioral Health. “We expect this partnership with National CORE to promote housing stability for those who are homeless and at-risk of homelessness and also to expand access to behavioral health and substance abuse services, a win-win,” he continued.
Ever since acquiring this community in 1996, National CORE has been developing plans to revitalize the 1950s-era development. However, because of limited funding sources for affordable housing in the region and the elimination of redevelopment agencies in California in 2012, efforts to revitalize the community became an impossible dream. It took many years to bring together public and private partners to make the dream a reality. In 2019, the renovation took a major step forward when Riverside County was awarded $7.7 million from the State of California’s No Place Like Home program to help fund the renovation of Cathedral Palms.
“Cathedral Palms has served the City’s seniors for decades and we are so excited to both see and participate in this extensive revitalization that will enhance the quality of life for so many of our aging citizens in need for many decades to come.” Said Mayor John Aguilar.
The rehab of Cathedral Palms will include a major renovation of all 224 apartment homes, with 68 homes set-aside for supportive housing, funded in part by the State of California’s HCD/No Place Like Home Program, as part of its efforts to mitigate the growing homelessness crisis in the Coachella Valley. In addition, a new 3,500 square feet Community Center will be built to serve as a hub for resident services and activities.
Funding sources for the redevelopment include the State of California’s HCD/No Place Like Home program, which awarded the County of Riverside and National CORE $7.7 million for 68 units of permanent supportive housing. The Housing Authority of the County of Riverside is providing 74 project-based vouchers, and Riverside University Health System-Behavioral Health is providing behavioral health and substance abuse services for residents living in the supportive housing units. Additional funding partners include the City of Cathedral City, JPMorgan Chase, and Red Stone Equity Partners.
“Cathedral Palms Apartments provides a needed affordable place to call home for the local senior community and this rehabilitation project is important to helping maintain a quality facility and improved experience for residents,” said James Vossoughi, Vice President, Community Development Banking, Chase. “We’re thrilled to continue working with National CORE on important projects that have a positive impact on our neighbors.”
“Red Stone Equity Partners is thankful for the opportunity to partner with National CORE on this important redevelopment project. The significant amount of rehabilitation and extension of the affordability period will ensure Cathedral Palms is able to provide high-quality affordable homes for the lower-income senior population in Cathedral City long into the future,” said Matt Grosz, Managing Director, Red Stone Equity Partners.
Construction has begun and will continue in phases to minimize disruption to existing residents and includes temporary relocation coordinated by National CORE’s in-house relocation team. Construction should be completed by late 2021.
# # #
About National CORE (National CORE)
National CORE based in Southern California, is one of the nation’s largest nonprofit developers of affordable housing. National CORE manages nearly 9,000 affordable, senior, and market-rate units in California, Texas, and Florida. National CORE’s strength is in its ability to offer partners an array of in-house capabilities that navigates the complexities of planning, developing, building, managing, and providing supportive services. For more information on National CORE, please visit www.nationalcore.org.
Media Contact
Jill Van Balen
jvanbalen@nationalcore.org
(909) 204-3434
Recent Comments