Praxis Consulting Group provided project management and development finance services to a Reno-based non-profit organization, Silver Sage Manor, Inc. Silver Sage at Neil Road Apartments is a 58-unit, two-story, new construction, elevator residence, which includes 49 one-bedroom and 9 two-bedroom, accessible / adaptable apartments with balconies as well as community and service space. The project is located next door to a senior center and an elementary school. Silver Sage at Neil Road Apartments is a senior-restricted development, available to residents age 55 and above. All of the units are affordable to seniors at or below 50% of area median income (AMI).The development financing includes ARRA Section 1602 TCEP funds, HOME funds from the Washoe County Home Consortium, and gap financing through the ARRA TCAP program. This project opened in April 2011.
|
