The projects, which are being developed by Palm Desert Development Co., consist of the 16-building Hovley Gardens Apartments in Palm Desert and the six-building Orchard Villas II in Coachella. Related Capital has provided the Hovley Gardens project with $15.3 million in equity for tax credits generated by the property and another $7.5 million to Orchard Villas II, also for tax credits. Housing Corp. of America is the nonprofit general partner on both projects. The two developments will break ground this month and are slated for completion within 18 months.
Hovley Gardens will contain 163 apartments at build-out, including two-bedroom, three-bedroom and four-bedroom units. The complex will stand on a 12-acre parcel, which was donated for development by the City of Palm Desert. Amenities at the completed property will include a clubhouse with kitchen facilities, swimming pool, basketball court, central laundry facilities, playground, picnic area and carports. In addition, computer training, life skills and language courses will be offered to the residents.
Plans for Orchard Villa II complex call for a total of 72 three-bedroom units. Property amenities will consist of central laundry facilities, a clubhouse with kitchen facilities, playground, picnic area, swimming pool and carports. Like Hovley Gardens, the complex will offer courses to its residents.
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