Palmdale Park

PALMDALE, CALIFORNIA

Goal: Enhance and re-energize an older Section 8 apartment community through a significant renovation and permanently preserve the important asset as affordable housing.

Palmdale Park Apartments is an existing property acquired by CDP in in partnership with BLVD Capital. Located in Los Angeles County, the development was built in the 1970s and consists of 58-units across 11 two-story residential buildings surrounding a large, central courtyard. A 12th building contains a management office, laundry room, and large previously underused community room, redesigned to encourage resident use. The property serves low-income families earning less than 60% of the area’s median income.

Upgrades completed in 2019 were made to improve energy efficiency, security, and living conditions, exteriors were repainted, and the landscaping extensively enhanced. Interiors were remodeled to bring units up to modern standards, including new cabinets, countertops, lighting, painting, flooring, and energy-efficient appliances. A picnic and BBQ area have been added as well as a large play area.

DEVELOPMENT

The project financing includes tax-exempt bonds allocated by CDLAC and issued by CSCDA, financed by a Freddie Mac TEL execution, and equity from the sale of non-competitive 4% LIHTC allocated by CTCAC. All units receive project-based rental assistance with Section 8 HAP contracts.

DATA
  • Number of units: 58
  • Lot size: 3.03 acres
  • Density: 19 units/acre
  • Unit size: 817 - 985 sf
  • Unit mix: 42 2BD/1BA, 16 3BD/1.5BA
  • Parking Spaces: 84
  • Affordability: 50-60% AMI
  • Total Cost: $13.8 M
TEAM
  • Non-Profit Partner: Integrity Housing
  • Architect: Ground Floor Design
  • Contractor: Katerra
  • Property Management: Solari

PARTNERS

CDP is proud to partner with these organizations that are critical team members and who share our mission of enhancing the quality of life for the communities in which we work.

Integrity Housing

Based in Orange County, CA Integrity Housing (IH) is a non-profit owner and operator of affordable housing throughout California. IH has been a partner with CDP on multiple affordable projects in CA, AZ and OR. They bring a wealth of knowledge to the projects from soft financing consultation and grant writing to operating expertise. To learn more, please visit: https://www.integrityhousing.org/