Praxis Consulting Group is currently providing development consulting services on a three-story, new construction elevator residence that will provide 142 units of affordable rental housing for seniors. Acapella Senior Apartments is being co-developed by Ovation Development Corporation, which is an affiliate of The Molasky Group of Companies, and Silver Sage Manor, Inc., a 20-year old Nevada non-profit organization whose mission is “to serve the needs of seniors by developing high-quality affordable housing.” The project broke ground in June, 2011. Praxis assembled to financing for the project, which includes 9% Tax Credits, HOME funds from Clark County, and conventional construction and permanenet debt. The project is planned to open in February 2012.
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