$1 billion master planned development in California clears key hurdle
City council, developer agree on 500 affordable housing units
Plans for a new section of the proposed $1 billion La Entrada master-planned community in Coachella, Calif., moved ahead after the developer and city council agreed that the plan would include 500 affordable housing units.
The 981-acre development in the Palm Springs area will include thousands of homes, schools, public parks, retail and office space, and maybe an athletic stadium.
The massive multi-use project is expected spur rapid growth in the city over the next two decades. Las Vegas-based New West Development expects to break ground in 2015.
Residents and officials had feared that the project would exclude low-income residents. The city council voted 5-0 in favor the proposed number of affordable housing units, though some community leaders said more of these residences should be earmarked for low-income residents given the city’s demographics.
In total, the plan calls for about 7,800 houses, condos and apartments, and a new highway interchange. The development will generate $1.1 billion in labor wages over 20 years, $3.4 billion in taxable sales revenue over 20 years, and 21,000 in jobs, according to the developer.