Additional funds for senior housing project approved
The Palm Springs City Council approved the project in January 2021, committing an initial $2.4 million and land valued at $1.4 million.
Additional funds required to keep a 71-unit, two-story development for low-income seniors moving forward in the city were approved by the Palm Springs City Council Thursday evening.
Looking back: The Council approved the Aloe Palm Canyon project in January 2021, committing an initial $2.4 million and land valued at $1.4 million.
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Driving the news: On Thursday, councilmembers unanimously approved an additional $3 million in construction funding from housing set-aside resources available in the 2023 Budget.
- A staff report states that additional funds are needed due to increased costs of construction materials and rising interest rates.
Why it matters: The project, being developed by the West Hollywood Community Housing Corporation along North Palm Canyon Drive, includes 25 units dedicated to senior individuals who are unhoused or at risk of being unhoused.
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