Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, has acquired Sunnyview Villa in Palm Springs – a community of one- and two-story buildings reserved for residents earning between 30% and 60% AMI. CPP’s renovation investment will renew the property’s affordability status for an additional 55 years. Located at 2950 N. Indian Canyon Rd., the 44 units at Sunnyview Villa will undergo extensive renovations to improve quality of life for its residents, with CPP partnering with LifeSTEPS to create a program focused on health and wellness services that are designed to maximize resident strengths while building resilient communities.
Karen Buckland, VP of Development at CPP commented: “The value that LifeSTEPS brings is integral in setting up an important support system for our residents.” The total development investment is expected to be approximately $20.7 million; including purchase price ($11.25 million) plus estimated renovation costs per unit ($89,000). Renovations are scheduled to be completed by December 2021; Otto Ozen from Mogharebi Group arranged the sale on behalf of Community Preservation Partners (CPP).
