Praxis Consulting Group recently assisted Nevada HAND, Inc., the state’s largest non-profit developer of affordable housing, in the mixed-finance development of Marion D. Bennett Plaza.
Balzar Senior Apartments is a 65-unit senior supported housing development that serves very low-income public housing residents in Las Vegas. The project was co-developed with the Southern Nevada Regional Housing Authority.
Praxis assisted in packaging the financing and gaining HUD approvals for the transaction, which included public housing Replacement Housing Factor funds, a FHLB Affordable Housing Program grant, and ARRA Public Housing Capital Funds. All 65 units receive public housing ACC operating subsidy.
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