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The Cathedral Palms Apartments is
a 231-unit affordable senior apartment community, originally
built in the mid-1960's. The thirty-year old community
was deeded as an endowment to Casa Colina Hospital,
who owned and managed the apartments for approximately
20 years. In the mid-1990's, as the need for repairs
continued to grow and the cost of operation continued
to increase, Casa Colina Hospital made the decision
to sell the property and began negotiations with the
Cathedral City Redevelopment Agency and National CORE,
to acquire, rehabilitate, and manage the community as
affordable housing for seniors.
Working
closely with the City Council and the Cathedral City
Redevelopment Agency, National CORE developed a complex
and long-term creative financing structure to purchase,
rehabilitate and renovate the aging property. To develop
the financing structure, National CORE utilized the
resources of the tax increment housing set-aside funds
from the Cathedral City Redevelopment Agency, as well
as loans and grants from Union Bank, Hemet Federal Savings
Bank, the County of Riverside Economic Development Department's
Federal HOME Investment Partnership program, and the
Federal Home Loan Bank Affordable Housing Program.
 The
rehabilitation efforts undertaken by National CORE
were extensive and included major improvements and repairs
on both the exteriors and interiors of these apartments.
Rehabilitation included new cabinets, flooring and light
fixtures. Old swamp coolers were replaced with energy
efficient window air conditioner/heater units. Screen
doors were added and an old storage room was converted
to a new community room with kitchen and restroom facilities.
In addition the old leasing office was converted to
a library/conversation and activity room. The laundry
room was completely rehabilitated with new flooring,
laundry equipment, lighting and tables for folding clothes.
The two pools and spa were re-plastered, decking was
replaced with a textured, non-skid coating and new pool
furniture was added. All asphalt was removed and replaced,
the parking area was re-striped, block walls replaced
decayed wood fences, new signage and a water fountain
was added, and security gates were added.
This
unique relationship was exemplified on Valentines Day
2000. A couple, who met at the property, decided to
get married. They went to the office and asked the Property
Manager to give away the bride. In fact, the entire
staff was asked to participate by fulfilling very special
roles. One Maintenance Technician was the best man,
the other Maintenance Technician ushered the guests.
The Activities Director was the maid-of-honor and the
Leasing Agent helped to plan the poolside wedding which
was held at the property. It is this sense of community
that sets National CORE apart from other property management
companies.
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Cathedral Palms was recognized by the National
Association of Home Builders and awarded the very
prestigious Pillars of the Industry award for
"Most Creative Financing of a Multifamily Development"
in 1999.
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Cathedral
Palms
Cathedral City, California
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231 Units
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31-750 Landau Blvd.
Cathedral City, CA 92234
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