Ground Broken on Affordable Housing Project for Seniors
Clark County joined Neighborhood Housing Services of Southern Nevada (NHSSN) to break ground on “The Golden Rule Senior Apartments,” an affordable housing development that will provide 60 rental units for very low-to-moderate-income seniors. The apartment building will be located at 820 N. Eastern Ave.
The project brings much-needed affordable housing to the Las Vegas Valley for seniors. Southern Nevada’s lack of affordable housing, especially at the lowest income levels, has had a negative effect on the community as many local families have had to turn to homelessness services for assistance.
According to the National Low Income Housing Coalition, the Las Vegas-Henderson-Paradise metropolitan area has the most severe shortage of homes available for extremely low-income renters with only 16 affordable and available homes for every 100 renter households.
“Too many of our seniors are struggling as rents and the cost of living in Las Vegas increase,” said Clark County Commissioner William McCurdy. “I’m very happy that we were able to contribute financially toward the completion of this project, which will house those with little income and provide needed social support for these residents.”
Clark County commissioners allocated $600,000 in Account for Affordable Housing Trust funds (AAHTF) for this project. State of Nevada through the National Housing Trust Funds is providing $828,000 along with the City of Las Vegas providing $1.9 million, Chase Bank with a permanent loan of $675,000 and lastly with the help of Boston Financial, a private investor, who is providing $12.3 million. In addition, Neighborhood Housing Services of Southern Nevada Inc., a nonprofit who has focused on housing for the past 30 years, is providing the land for the project.
“It’s a new adventure for our organization as this is our first ground up development and we are very proud that it is being dedicated towards the most vulnerable population, our senior community. This project supplements what we already own and manage which is 150+ units scattered throughout the valley,” said Michelle Merced, CEO of NHSSN. “We are excited to continue to be part of the Affordable Housing Community and are dedicated to build better neighborhoods block by block!”
NHSSN has offered affordable housing services since 1992, which includes acquiring, purchasing and renovating homes to provide affordable rental options for larger families. This is the first ground-up development project for the organization, partnering with Grand Canyon Development Partners to help bring it to life.
“We are thrilled to partner with and help Neighborhood Housing Services of Southern Nevada to develop this much-needed affordable housing project,” said Grand Canyon Development Partners President Sam Nicholson. “These kinds of projects are important to help those facing housing insecurity, and this specific development will benefit many seniors in need in our community.”
Construction is expected to be completed by February 2023.
About Neighborhood Housing Services of Southern Nevada
For the past 30 years Neighborhood Housing Services continues to focus on everything housing. Since then they have provided homebuyer education to a total of 7,800 households, counseling to over 4,200 future homeowners, administered and facilitated down payment assistance both federal and private to over 1,500+ families and to date has helped over 1,700+ residents in saving their home through foreclosure prevention. Through their services it has created a total of $2.7 million in tax paying dollars.
Like our state anthem “Home means Nevada” it is the beginning of the start of one's journey as they leave their parent's house, to graduating college and now working towards achieving the American dream through homeownership. 1992 was the start for NHSSN, and 30 years later, the organization continues to thrive and help uplift our community. For more information visit www.mynhssn.org
About Grand Canyon Development Partners
Grand Canyon Development Partners is a full-service project management company providing experienced leadership and expertise to real estate developers, retailers, and contractors throughout the Southwest. Its primary objective is to help people develop and build projects successfully. The firm is comprised of development and construction professionals who have over 100 years of combined experience working for design and engineering firms, developers and contractors. The team’s extensive experience provides a unique ability to fully understand what is critical to clients and their businesses while also having the insight on what it takes to pull a successful project together, from feasibility to design and permitting, through construction and turnover to tenants. For more information on Grand Canyon Development Partners, visit http://grandcanyoninc.com/.
About Clark County
Clark County is a dynamic and innovative organization dedicated to providing top-quality service with integrity, respect and accountability. With jurisdiction over the world-famous Las Vegas Strip and covering an area the size of New Jersey, Clark is the nation’s 11th-largest county and provides extensive regional services to 2.3 million citizens and 45.6 million visitors a year (2019). Included are the nation’s 7th-busiest airport, air quality compliance, social services and the state’s largest public hospital, University Medical Center. The County also provides municipal services that are traditionally provided by cities to 1 million residents in the unincorporated area. Those include fire protection, roads and other public works, parks and recreation, and planning and development.
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