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| May 5, 2006 |
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COMMUNITY DYNAMICS BREAKS GROUND AT FALCON CREST
PALM DESERT, CA – Lynn Jacobs, Gov. Arnold Schwarzenegger’s newly appointed Director of Housing & Community Development, joined the City of Palm Desert and Community Dynamics at ground breaking ceremonies for Falcon Crest. |
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The community includes 93 single family homes for moderate income first time buyers in the Coachella Valley. Nearly 100 community leaders attended the festive event.
"The Governor is committed to helping local governments provide quality affordable housing for California's hardworking families, and our Department is pleased to partner with the City of Palm Desert and Community Dynamics to deliver these homes at Falcon Crest," she said. HCD has awarded the City of Palm Desert with a $2.79 million grant for homebuyer assistance.
Community Dynamics' President, Loren Bloch, applauded the City's long standing commitment to its working families, and thanked the Redevelopment Agency for its consistent leadership in the affordable housing field.
The Company recently installed $3.5 million in site improvements for the new community, and expects to complete build out of the homes in three phases of production over a period of approximately 18 months. The 3 and 4 bedroom homes will sell from $199,000 in a market where entry level housing starts at $350,000. |
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