Clark County Commission Approved Seven Affordable Housing Developments

Vegas Business Digest -

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On March 2nd, the Clark County Commission unanimously approved a plan to help fund seven affordable housing developments that consist of 602 units. Since January 2020, more than 1,100 affordable housing units have been constructed or are under construction in Clark County.

According to Clark County's website, the specific projects and funding amounts supported were:

  1. Nevada H.A.N.D., $1 million to assist with construction of an affordable family community with 80 units on the northeast corner of South Decatur Boulevard and West Pyle Avenue.
  2. Nevada H.A.N.D., $1 million for construction of a 125-unit community for seniors located at the southwest corner of South Buffalo Drive and West Cactus Avenue.
  3. Community Development Program Center of Nevada, $500,000 for 1501 LLC Apartments Phase 2, a 40-unit apartment development for families at 1501 Decatur Boulevard.
  4. Community Development Program Center of Nevada, $500,000 to assist with Donna Louise Phase 2 a 48-unit development for families at 6275 Donna Street in North Las Vegas.
  5. Coordinated Living of Southern Nevada, $1.3 million to assist with the planned fourth phase of the Tempo Senior Apartments development, which will add 208-units on the northeast corner of Russell Road and Boulder Highway.
  6. Silver State Housing, $860,000 for the West Sahara Senior Housing II development, which will have 65-units for residents 55 and over, and be at 8007 W. Sahara Avenue.
  7. Nevada Rural Housing Authority, $500,000 to assist with Hafen Village Phase II a 36-unit family development located at 850 West Hafen Lane in Mesquite.

“These developments will provide much-needed affordable housing for our older neighbors and families struggling to make ends meet,” Commission Chairman Jim Gibson said. “It is important that we continue to support the construction of new affordable homes in Southern Nevada so residents of all income levels have safe and decent places to live.”

Affordable housing is an issue across the country. The migration pattern we have been seeing during the pandemic has been pushing up home prices. People in expensive, gateway cities like Los Angeles, San Francisco, New York are moving to cheaper, secondary cities like Las Vegas, Austin, Miami, Phoenix, and Nashville. Raising home prices makes purchasing a home less affordable for locals who already live in these secondary cities.

Last month, Governor Sisolak and Nevada Housing Division announced a “Home Means Nevada” housing initiative to invest $500 million to lower the cost of housing, help senior make repairs and accessibility retrofits to say in their homes, and boost housing availability.

The plan will be administered by the housing division pending the Legislature’s Interim Finance Committee approval. The division will leverage other forms of available debt financing programs such as Federal Low-Income Housing Tax Credits (LIHTC) to maximize the impact and benefit more than 13,000 households throughout Nevada.

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