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| January 15, 2005 |
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COMMUNITY DYNAMICS WINS PALM DESERT PROJECT
PALM DESERT, CA – On July 14, the Palm Desert Redevelopment Agency unanimously approved its staff’s recommendation to enter into a development agreement with Community Dynamics for the development, buildout, marketing and sale of an affordable housing community. |
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The community will consist of 27 senior apartments for low income seniors and 93 single family homes for workforce families being squeezed out of the homeownership marketplace in the Coachella Valley.
Josh Freeman, Community Dynamics' spokesperson, said "The Company is grateful to once again team up with the City of Palm Desert to deliver much needed, top notch affordable housing to the residents of the Coachella Valley." The Company previously associated with Palm Desert from 1996 through 1998 for Desert Rose, a collection of 161 single family homes affordable to low and moderate income families. Freeman added that the Company expects to begin rough grading for the $26 million contract in the fall, and to begin building homes in the winter of 2006. |
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