Praxis Consulting Group recently provided development finance services to Accessible Space, Inc., a nationally recognized developer of affordable, service-enriched housing for people with physical disabilities, including the frail elderly. Coronado Drive Apartments entailed the new construction of 60 accessible, and adaptable, apartments, that serve low-income and frail elderly residents. Twenty percent of the units at Coronado Drive are set aside for very low-income seniors with physical disabilities.
The development financing includes ARRA Section 1602 Tax Credit Exchange Program funds, HOME funds from both the City of Henderson and the Clark County HOME Consortium, 30 Project-Based Housing Choice Vouchers from the Southern Nevada Regional Housing Authority, and Federal Home Loan Bank of San Francisco Affordable Housing Program funds. The Apartments opened in July 2011.
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