National Equity Fund, Inc. National Equity Fund, Inc.

Extraordinary things happen when you have great partners
Since 1987, National Equity Fund® has invested more than $13 billion revitalizing neighborhoods,
fostering economic growth and creating affordable sustainable housing.

Brisas De Paz Apartments

Brisas De Paz Apartments

Family Housing

Situated on 4.7 acres in Desert Hot Springs, California, Brisas de Paz consists of 11 one-bedroom, 26 two-bedroom and 25 three-bedroom apartments, of which one is the onsite manager’s unit. The community is located approximately 100 miles east of downtown Los Angeles and was designed to provide a high quality living environment for low and very low income families with rents set at 30, 35, 40, 45 and 50 percent of Area Median Income.

The excellent amenity package is comparable or superior to other communities in the market. There is an outdoor area with 95,000 square feet of parkway/ green belt for recreation and social gatherings, two tot lots and a swimming pool. A community building includes a computer lab and space for after-school programs, ESL classes and a variety of other services are provided at no charge to the residents.

The community is close to transit, schools, medical services, shopping and entertainment facilities making the site an ideal location for multi-family housing.

National Equity Fund provided $9 million in LIHTC equity. The sponsor, Coachella Valley Housing Coalition has partnered with NEF on 13 prior projects including Arroyo de Paz I and II, which are located 1.1 miles southeast of Brisas De Paz.


Project Details

Completed
2012
Location
65921 Flora Avenue
Desert Hot Springs, CA
Project Type
New Construction/Family
Total Units
62
Mix of Residences
11-1 BR, 26 2-BR, 25 3-BR
Limited Partnership
Brisas de Paz Associates, LP
Tax Credit Equity
$9 million
Total Project Costs
$16.1 million
Sponsor
Coachella Valley Housing Coalition
Permanent Lenders
California Community Reinvestment Corporation
City of Desert Hot Springs
Riverside County Economic Development Agency
Wells Fargo Bank
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