​A new low-income apartment project is scheduled to break ground in downtown Reno, adding a couple hundred affordable housing units for seniors at a time when many residents are struggling with the high cost of housing.

The Vintage at Washington Station will hold a groundbreaking ceremony on Oct. 18 at its Winter Street location just off Washington and Third streets. Rents will be in the mid-$900 range for studios and a little over $1,000 for one-bedroom apartments, including all utilities.
Once finished, the project by Reno-based Greenstreet Development will add 206 low-income housing units at a prime location.

“It’s downtown so it’s a good location,” said Dane Hillyard, co-founder and principal at Greenstreet. “It’s close to the hospital and seniors can also walk to a lot of places — things like parks and other amenities.”

The project will have many of the same features as another recently completed Greenstreet project, The Vintage at Sanctuary. The Sanctuary uses a modern design, with amenities such as a clubhouse with a kitchen, a fitness center and game room. Each unit also has a washer-dryer built in.

Like the Sanctuary, The Vintage at Washington Station will provide housing for seniors who make 60% or less of the area median income or AMI. The income limit is a key threshold set by the Department of Housing and Urban Development for projects in order to qualify for rental assistance such as Section 8 housing choice vouchers. The 60% AMI threshold equates to $35,100 or lower for one person and $83,800 for a family of four in Reno.

About 5% of the units also will be set aside for seniors who make 45% or less of the area median income, which is considered very low income. The requirement was set by the city of Reno as one of the conditions for selling the land to Greenstreet, according to Hillyard.

The 45% AMI units are so deeply discounted that the rent is about the same as the overhead and “almost negative” from a revenue standpoint, Hillyard said. Greenstreet was able to make the project work, however, by working with the city, he added.

“They gave us a really good price on the land to make the deal pencil,” Hillyard said. “I remember that they got some grief for selling it to us below market value so big kudos to the city of Reno for having the foresight to do this.”

Low-income housing continues to be in high demand in Reno-Sparks, which has been gripped by a housing affordability crisis in recent years. The average rent in the area reached a record $1,680 for the second quarter of this year, according to real estate appraisal and consulting firm Johnson Perkins Griffin.

Housing affordability has especially been a controversial issue in downtown Reno, which has seen ongoing debate between the need for development and revitalization through projects such as the Neon Line District and the loss of old motels that served as de facto cheap housing for low-income residents.

The Reno Housing Authority has also been trying to acquire properties downtownto turn into affordable housing, although it has since dropped its bid for the former Sundowner hotel-casino.

Hillyard, whose company developed several affordable housing apartments and continues to operate them, says demand continues to outpace the number of available units.

“The Sanctuary is 100% full and we immediately had a waiting list,” Hillyard said.

Greenstreet decided to focus on seniors for The Vintage at Washington Station because older tenants especially have it tough in the current apartment market, according to Hillyard. Greenstreet’s tenants include many veterans as well as older women.

“Seniors struggle the most,” Hillyard said. 
​
“They may not be able to work anymore or are barely working and on a tight income with Social Security and benefits so they’re really hardest hit. A lot of seniors are also typically by themselves so it’s just a big deal.”

The site for The Vintage at Washington Station has been cleared as of last Friday. Hillyard expects the project to be a two-year build.

Jason Hidalgo covers business and technology for the Reno Gazette Journal, and also reviews the latest video games. Follow him on Twitter @jasonhidalgo. Like this content? Support local journalism with an RGJ digital subscription.

Source: https://www.rgj.com/story/news/money/business/2022/10/08/affordable-apartments-vintage-washington-station-break-ground-reno-prime-downtown-rental-seniors/8208497001/

Low-income seniors and families looking for housing will have an additional option next year at an affordable housing project in Carson City.

The Sierra Flats project broke ground on Butti Way and Airport Road in Carson City on Sept. 1. The project will have 160 affordable housing units and will be completed before the end of 2023.

The project is being constructed under the low-income guidelines set by the Department of Housing and Urban Development. Sierra Flats will cater to seniors and families who make 60% or less of the median gross income in Carson City. Rents will range between $450 and $1,150.

The project by PalaSeek LLP, Oikos Development Corp. and CM Development  is one of a few public-private partnerships for affordable housing in the area. Northern Nevada is seeing a spate of multifamily construction but most have been for luxury or higher-priced apartment projects. 

In Reno-Sparks, for example, average rent reached a record high of $1,680 during the second quarter, according to real estate appraisal and consulting firm Johnson Perkins Griffin. The number is more than double the average rent of $836 during the same quarter 10 years ago.

“The Sierra Flats project will bring much-needed relief to low-income renters in Carson City who have struggled to keep up with the rising cost of living here in northern Nevada,” Carson City Mayor Lori Bagwell said in a statement. “Public-private partnerships such as this are critical to ensure our community can continue to increase the number of available affordable housing units and create sustainable solutions for our housing crisis.”

Affordable housing is especially an issue in Nevada, which is facing a shortage of 84,000 affordable apartments for extremely low-income renters, according to the National Low-Income Housing Coalition. The state has 20 affordable rentals for every 100 extremely low-income households, according to the organization. 

The Sierra Flats project is receiving funding from the Nevada Housing Division and the 9% Low-Income Housing Tax Credit program. The housing division is also providing HUD HOME funds as well as National Housing Trust Funds to the project to make rents affordable.
​
“A lack of affordable housing impacts all aspects of us — our health, our happiness and our ability to dedicate ourselves to our families and careers,” said Gov. Steve Sisolak in a statement about the Sierra Flats project. 

“Getting just one more person into a home makes an incredible difference.”

Source: Reno Gazette Journal

PalaSeek LLP, Oikos Development Corporation, and CM Development, which make up Sierra Flats Senior GP, broke ground on a 160-unit Housing and Urban and Development (HUD) affordable housing project in Carson City this week.

Phase one of the Sierra Flats project will include 40 senior housing units and 40 family units with average rental prices expected to be between $450 and $1150. The project is intended for seniors and families whose income is not more than 60% of the Carson City median gross income. 

Average rents in northern Nevada have jumped 89% in the last seven years, from below $900 to $1680, according to the real estate appraisal and consulting firm Johnson Perkins Griffin.

These dramatic cost increases have left Nevadans facing the greatest challenge in finding affordable housing in the nation. According to the National Low-Income Housing Coalition, Nevada has a shortage of more than 84-thousand affordable rental homes for extremely low-income renters. There are only twenty affordable and available rental homes for every 100 extremely low-income renter households in the state.
 
“The Sierra Flats project will bring much-needed relief to low-income renters in Carson City who have struggled to keep up with the rising cost of living here in northern Nevada,” Carson City Mayor Lori Bagwell said. “Public-private partnerships such as this are critical to ensure our community can continue to increase the number of available affordable housing units and create sustainable solutions for our housing crisis.”

Carson City acquired the property for this project in 1960 and directed city staff to request proposals from developers for an affordable housing project in January 2019. The land was conveyed to the Sierra Flats developers earlier this year so construction could begin. 

“Our company was created in direct response to the lack of affordable housing across the country,” Oikos Development Corporation President and CEO Michael Snodgrass said. “We want to provide beautiful, energy-efficient, and sustainable solutions for low-income families and their communities.” 

The project will be built to the rigorous National Green Building Standard (NGBS), which requires independent, third-party verification that a building or development is designed and built to high performance in the following areas:  site design, resource efficiency, water efficiency, energy efficiency, indoor environmental quality, and operation and maintenance.

Sierra Flats will also include solar power to reduce tenant electricity costs and electric vehicle charging stations. 

"A lack of affordable housing impacts all aspects of us -- our health, our happiness and our ability to dedicate ourselves to our families and careers," said Governor Steve Sisolak. "The work we are doing together is imperative: getting just one more person into a home makes an incredible difference. I'm proud to work with organizations across the State to do this critical work."

Sierra Flats Senior LP is funded through the Nevada Housing Division and the 9% tax credit program.  In addition, HOME funds and National Housing Trust Funds are being provided by the Nevada Housing Division to ensure rents are affordable.
​
Sierra Flats is expected to be complete before the end of 2023.

Source: 2 News

A new $76 million housing renovation project will extend the life of 299 affordable apartments set aside for seniors and other low-income Salt Lake City residents.

Construction, which launched Friday, will modernize the dwellings inside two public housing buildings, County High Rise and New City Plaza located near 1960 South 200 East, just east of the Salt Lake County Government Center, and add a one-story breezeway between them.

Officials say it is the largest effort thus far by the county’s housing authority — now known as Housing Connect — to maintain some of the region’s most affordable dwellings available for the elderly at a time when Utah is seeing a dire housing shortage and moderately priced rentals suitable to their needs are in especially short supply.

Janice Kimball, CEO at Housing Connect, said in a statement the project will keep the apartments affordable and accessible for another 30 to 50 years as part of the agency being “deeply committed to our vision that everyone in our community has a safe, affordable place to call home.”
​
New City Plaza has, until now, been run by Salt Lake City’s housing authority but post-renovation, the two buildings will come under Housing Connect’s management.

HUD’s $39 million contribution comes via a new demonstration program that essentially lets local public housing authorities leverage their financial resources to reinvest in their housing stock. It requires them to keep the upgraded housing units permanently affordable to low-income residents.
​
Under the program — titled Rental Assistance Demonstration, or RAD — the housing will be moved under what is known as HUD’s Section 8 program, the federal government’s voucher program for helping seniors, low-income families and those with disabilities. Existing residents are consulted through RAD before the conversion and are guaranteed the right to occupy the modernized units and to continue to pay 30% of their income toward rent.

So far, the federal program has freed up more than $14.5 billion for capital investments to improve or replace 175,000 rent-assisted homes across the country, HUD said, most of them serving low-income families, seniors and residents with disabilities.

A Lakewood, Colo.-based firm called ej architecture has been selected as the Housing Connect renovation’s architect. Kier Construction in Ogden will be the general contractor.
Announcement of the renovation and preservation of 299 dwellings dedicated to seniors comes at a critical time in what experts say is a widespread housing shortage in Utah and the U.S., one felt acutely by older residents.

The Beehive State has one of the fastest growth rates in the country for people age 65 and older, recently released census numbers show. As the baby boom generation ages and home prices and rents alike continue to surge, among the hardest hit financially are seniors, many of whom live on fixed incomes and often require special living arrangements due to limited mobility.

A 2019 study found that of approximately 277,000 senior households in Utah, nearly 72,000 — or nearly 1 in every 4 — are estimated to be “cost-burdened,” forcing them to spend more than 30% of their total income on housing. In addition, 1 in every 8 senior households — about 8,900 in total — spend half more of their incomes on housing.

And that was before the impacts of the coronavirus pandemic, which has accelerated price rises in for-sale and rental housing alike in Utah with exploding demand for homes, particularly those accessible for residents earning below the region’s median wage.

Source: Salt Lake Tribune
​

Transaction with the Housing Authority of the County of Salt Lake preserves low-income housing units for seniors and individuals with disabilities.

WASHINGTON, D.C. - The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing today announced that it has closed a Rental Assistance Demonstration (RAD) transaction with the Housing Authority of the County of Salt Lake at its New City Plaza site. The transaction will preserve 299 low-income housing units, maintaining long term, stable, and affordable housing for low-income seniors and non-elderly disabled residents in Salt Lake County. Through RAD, the immediate and future needs of the project are addressed through the recapitalization, setting the project up for both financial and physical stability over the long-term.
The RAD transaction includes a $39.8 million construction budget ($133,110 per unit) fully financed through:

• Commercial FHA-Insured Mortgage Loan
• 4% Low-Income Housing Tax Credits
• HOME Funds

Currently, the Housing Authority of Salt Lake City and the Housing Authority of the County of Salt Lake manage two adjacent buildings, the City Plaza and the County High Rise, separately as individual projects. While located on the same parcel, the two buildings have lacked any physical connection between them. Through RAD, the project will convert and renovate the two projects and manage them as one project post-conversion. The City owned property (City Plaza) and the County owned property (County High Rise) managed and owned by the Housing Authority of the County of Salt Lake will lead to a more efficient management of the two adjacent properties, enabling the Housing Authority to free up more funding up to be allocated towards other residential and affordable housing capital needs.
This project preserves much needed affordable housing in in downtown Salt Lake City, enabling residents to have access to affordable housing in an area close to jobs and opportunities. It will add a new one-story connecting breezeway to create a unified senior community in which residents have ease of access between these buildings. Additionally, all units will be updated with wiring for broadband during the rehabilitation. Finally, the rehabilitation will include important health and safety updates, including generators and access systems, unit and common area modernization, and other building and unit upgrades.
About RAD
RAD was designed to help address the multi-billion-dollar nationwide backlog of deferred maintenance in the public housing portfolio and to stem the loss of affordable housing that could no longer be kept to decent standards. From the program’s inception through June 1, 2022, the Rental Assistance Demonstration has facilitated more than $14.5 billion in capital investment to improve or replace nearly 175,000 deeply rent-assisted homes, most of which house extremely low-income families, seniors, and persons with disabilities.
Under RAD, projects funded under the public housing program convert their public housing assistance to project-based Section 8 rental assistance. Under Section 8, residents continue to pay 30% of their income towards rent and the housing must continue to serve those with very low and extremely low incomes, as was the case when the property was assisted through the public housing program. Residents must be notified and consulted prior to conversion, are given a right to return to assisted housing post-construction so that the same tenants can enjoy these newly preserved and improved apartments and maintain the same fundamental rights they had as public housing residents.
RAD Resources
More programmatic information is available at the RAD website. Data on RAD is available at the RAD Resource Desk.
View photo essays and read case studies where RAD is working to successfully preserve and improve public housing for low-income families.
Watch an educational video for public housing residents or those new to the RAD program.

Source: HUD.gov

Ovation Design & Development, a local multifamily housing developer, held the grand opening of Arioso, a 195-unit affordable rental community for qualified low-income seniors in southwest Las Vegas.
The complex is part of Ovation’s commitment to provide high-quality living centers, complete with recreational and resident service components, for low-income seniors, many of whom are on fixed incomes.

Ovation founder Alan Molasky was joined by Gov. Steve Sisolak and Clark County Commissioner Justin Jones to celebrate the opening and use the occasion to discuss the need for a concerted plan to address the growing shortage of housing options for low-income seniors and working families.

“The need for affordable housing and supportive elderly housing in the Las Vegas Valley is well-documented,” Molasky said. “Southern Nevada already has a desperate shortfall now, and with a growing senior population, it is estimated that 85,000 additional affordable housing units will be needed in the next 10 years to meet the demand.”

Clark County, local municipalities and the state of Nevada have made it a priority to meet this challenge. “I’m proud of the work being done across all levels of government and with community partners, like Ovation, to address the affordable housing crisis in Nevada,” Sisolak said. “With my $500 million ‘Home Means Nevada’ investment, we will be working with partners across the state to build more affordable housing, get Nevadans into homes and keep them in their homes, as well as create good-paying jobs.”

“As a county, we have been focused on helping to facilitate and fund the construction and rehabilitation of affordable housing in our community, and this need has significantly increased over the last year,” said Jones, who represents the Arioso location. “Affordability is incredibly important to those on a fixed income, and Arioso provides a safe, spacious and most importantly, affordable place to live.”

“As a community, we need to work together to address our housing challenges, and Arioso represents the exceptional work we can do when all partners: HUD, the state of Nevada Housing Division, Ovation Design &Development and Coordinated Living of Southern Nevada work together to help serve some of our most vulnerable residents,” Jones said. Arioso was made possible partly from $1.5 million in HUD HOME Investment Partnerships program funds, which were provided to this development by Clark County.

Arioso is one of 13 affordable senior housing communities built and managed by Ovation, totaling nearly 1,900 units, with more projected for the future. The Energy Star-rated community includes one- and two-bedroom units and featuring a recreation/wellness center, swimming pool and Jacuzzi, social gathering spaces and other amenities.

Onsite supportive services also are provided on an ongoing basis, such as health and wellness workshops, exercise and nutrition courses, social outings and community events, and transportation assistance provided by community partners with Coordinated Living of Southern Nevada, a nonprofit organization managing resident services at multiple communities where low-income Nevada seniors can age in place with choice, dignity and self-fulfillment.

“With rents continuing to escalate, our seniors have limited access and options for affordable housing,” said B.J. Wright, executive director of Coordinated Living of Southern Nevada. “Ovation, in partnership with Coordinated Living of Southern Nevada, continues to pave the way in demonstrating senior housing can be both beautiful and affordable. These buildings provide a safe and comfortable home, connect residents with needed services and give them a sense of dignity and community.”

Financing for Arioso included the use of tax-exempt bonds issued by the Nevada Housing Division, equity from the sale of non-competitive 4 percent low income housing tax credits, HOME Investment from Clark County and Growing Affordable Housing Program (GAHP) funds designed to help create innovative quality affordable housing opportunities.

“Wells Fargo would like to congratulate Ovation on the completion of another successful 195-unit, senior affordable housing apartment project,” said Paul Buckland, managing director in Wells Fargo’s Community Lending &Investment group. “We are proud to work with Ovation to create an affordable and attractive place for seniors to call home. The team’s values align with ours and this project is an example of private and public sectors working together to achievable affordable housing goals in Nevada.”

“Rising land prices and the rapid escalation in the cost of construction have made it virtually impossible to build affordable housing opportunities without incentives and creative finance programs to support them,” Molasky said. “Ovation is proud to be a part of the affordable housing community in Southern Nevada where all levels of federal, state and local governments collaborate with private for profit and nonprofit organizations to build housing that serves this critical need.”
​
Arioso is at 9270 Quarterhorse Lane. For leasing or information, visit seniorlasvegasliving.com or call 702-990-2678.

Source: Las Vegas Review Journal

Ovation Design & Development, a local multi-family housing developer, held the grand opening of Arioso, a 195-unit affordable rental community for qualified low-income seniors in the southwest Las Vegas valley. The complex is part of Ovation’s commitment to provide high-quality living centers, complete with recreational and resident service components, for low-income seniors, many of whom are on fixed incomes.

Ovation founder Alan Molasky was joined by Governor Steve Sisolak, and Clark County Commissioner Justin Jones to celebrate the opening and to use the occasion to discuss the need for a concerted plan to address the growing shortage of housing options for low-income seniors and working families.
​
“The need for affordable housing and supportive elderly housing in the Las Vegas Valley is well documented,” said Molasky. “Southern Nevada already has a desperate shortfall now, and with a growing senior population, it is estimated that 85,000 additional affordable housing units will be needed in the next 10 years to meet the demand.”

Clark County, local municipalities and the State of Nevada have made it a priority to meet this challenge.“I’m proud of the work being done across all levels of government and with community partners, like Ovation, to address the affordable housing crisis in Nevada,” said Governor Steve Sisolak. “With my $500 million ‘Home Means Nevada’ investment, we will be working with partners across the state to build more affordable housing, get Nevadans into homes and keep them in their homes, as well as create good-paying jobs.”

“As a County, we have been very focused on helping to facilitate and fund the construction and rehabilitation of affordable housing in our community, and this need has significantly increased over the last year,” said Clark County Commissioner Justin Jones, who represents the area where the facility is located.  “Affordability is incredibly important to those residents who live on a fixed income, and the Arioso Senior Apartments will provide a safe, spacious, and most importantly, affordable place to live.”

“As a community, we need to work together to address our housing challenges, and the Arioso Senior Apartments represent the exceptional work we can do when all partners such as HUD, the State of Nevada Housing Division, Ovation Design & Development and Coordinated Living of Southern Nevada work together to help serve some of our most vulnerable residents,” said Jones. The new building was made possible partly from $1.5 million in HUD HOME Investment Partnerships program funds, which were provided to this development by Clark County.

The Arioso senior community is one of 13 affordable senior housing communities built and managed by Ovation, totaling nearly 1900 units, with more projected for the future. The EnergyStar-rated community includes one and two bedroom units and featuring a recreation/wellness center, swimming pool and Jacuzzi, social gathering spaces and other amenities.

Onsite supportive services also will be provided on an ongoing basis, such as health and wellness workshops, exercise and nutrition courses, social outings and community events, as well as transportation assistance provided by community partners in conjunction with Coordinated Living of Southern Nevada, a non-profit organization that manages resident services at multiple communities where low-income Nevada seniors can age in place with choice, dignity and self-fulfillment.

“With rents continuing to escalate, our seniors have limited access and options for affordable housing,” said B.J. Wright, Executive Director of Coordinated Living of Southern Nevada.  “Ovation Properties, in partnership with Coordinated Living of Southern Nevada, continue to pave the way in demonstrating senior housing can be both beautiful and affordable.  These buildings not only provide a safe and comfortable home, but also connect residents with needed services and give them a sense of dignity and community.”

Financing for Arioso included the use of tax-exempt bonds issued by the Nevada Housing Division, equity from the sale of non-competitive 4% Low Income Housing Tax Credits, HOME Investment from Clark County and Growing Affordable Housing Program (GAHP) funds designed to help create innovative quality affordable housing opportunities. “Wells Fargo would like to congratulate Ovation Affordable Housing on the completion of another successful 195 unit, senior affordable housing apartment project,” said Paul Buckland, managing director in Wells Fargo’s Community Lending & Investment group. “We are proud to work with Ovation to create an affordable and attractive place for seniors to call home. The team’s values align with ours and this project is an example of private and public sectors working together to achievable affordable housing goals in Nevada.”

“Rising land prices and the rapid escalation in the cost of construction have made it virtually impossible to build affordable housing opportunities without incentives and creative finance programs to support them,” said Molasky. “Ovation is proud to be a part of the affordable housing community in Southern Nevada where all levels of federal, state and local governments collaborate with private for profit and non-profit organizations to build housing that serves this critical need.”

Arioso is located at 9270 Quarterhorse Lane. For leasing or information, visit
www.seniorlasvegasliving.com or call 702-990-2678.

About Ovation Design & Develpment and Coordinated Living of Southern Nevada, Inc.

Ovation Design & Development (Ovation) was founded by Alan Molasky in 1984 to meet increased demand in southern Nevada for high-quality rental housing developments. In 2012, Ovation completed its first tax credit senior apartment community for low-income seniors who are at or below 60% of HUD Area Median Income levels. Since then, the company has completed 12 additional low-income housing communities, totaling nearly 1900 units, with more projected for the future. For these communities, Ovation partners with Coordinated Living of Southern Nevada, Inc., a nonprofit organization that works with community partners to offer an on-site activities and services program, free to residents, including nutrition assistance, transportation, health screening and community events. For information, visit www.ovationdev.com or www.seniorlasvegasliving.com or call 702-990-2678.

​Source: Nevada Business Magazine

A Las Vegas developer has opened an affordable housing complex amid fast-rising rents and concerns over Southern Nevadans’ ability to keep up with the higher payments.

Ovation Design & Development held a grand opening Thursday for Arioso, a 195-unit apartment complex in the southwest valley for low-income seniors. One-bedroom units start at $921 per month, two-bedrooms start at $1,105, and the rents include utilities, Ovation’s website indicates.

By comparison, the typical rental rate in the Las Vegas area as of April was $1,851, listing site Zillow reported. Las Vegas’ rents were up 21.3 percent from a year earlier, compared with a 16.4 percent jump nationally.

Nevada has long faced a need for more affordable housing units, an issue that has only been amplified lately during Las Vegas’ housing boom. Strong demand, tight supply and rapid price increases for buyers and renters alike have made it more difficult and more expensive to land a place to live in the Las Vegas Valley over the past year or two.

Gov. Steve Sisolak said at Thursday’s event that affordable housing is of “utmost concern” to him and that Ovation’s project puts a dent in the need for such units.

“We’ve got a long way to go,” Sisolak said.

Construction of Arioso finished in October, and the four-story project, along Blue Diamond Road near Fort Apache Road, is fully leased and has a waiting list, project manager Jess Molasky said.

Nevada, with the bulk of its population in the Las Vegas Valley, has an estimated shortage of 79,835 affordable and available rental homes for extremely low-income tenants, according to the National Low Income Housing Coalition.

Sisolak’s administration has launched a $500 million program to boost affordable housing in the state. The initiative, Home Means Nevada, is designed to fund multifamily development and rehabilitation and to help homeowners.

It marks the “largest single investment in affordable housing” in state history, the governor’s office previously said.

At a kick-off event for the program in April, Congressman Steven Horsford, D-Nev., said affordable housing is a “real crisis right now.”

He pointed to Las Vegas’ “astounding” rent hikes, saying too many people are left “wondering what will happen if they can no longer afford these rapidly escalating rents.”

Arioso, for one, has drawn such tenants as 62-year-old Maria Del Carmen Palacios, who moved there in April.

Palacios said her rent costs $1,063 and that she collects her late husband’s pension, earns extra money as a school crossing guard and gets help from family, too.

She had been living with her daughter and said she had trouble sleeping when she learned one-bedroom apartments in the area would cost $1,600 a month, not including bills.

“It feels good to live in a place like this,” she said.
​
Source: Las Vegas Review Journal

LAS VEGAS, Nev. (FOX5) - State officials, advocates and developers continue to find solutions to solve Nevada’s housing crisis and the impact on seniors.

The Nevada Housing Coalition estimates the state lacks 85,000 homes for those with extremely low incomes.

Nevada’s housing shortage means there are 18 units for every 100 people searching for a affordable home. In Las Vegas, the number shrinks to 13 units for every 100 people searching for a rental.

From approximately 25,000 Nevada seniors in that income bracket, the organization estimates that 81% of them spend more than half of their income on rent.

“What that means is they’re at high risk of homelessness,” said Christine Hess with the Nevada Housing Coalition. “What that means is they’re probably compromising what they’re spending for their health care. They may or may not have internet service. That’s how you access resources. Something’s got to give in your household budget, when you pay more than half of your income on housing costs and on rent,” she said.

Governor Steve Sisolak said the Home Means Nevada Initiative has $500 million earmarked for projects, and 200 developers have applied. Clark County has set aside $180 million for projects as well.

Thursday’s opening of the 195-unit Arioso Apartments for senior affordable housing in the Southwest valley is one of the new developments meant to solve to the crisis.

“It was actually full before we opened. We had about 350 people on the waitlist,” said project manager Jess Molasky. “We’re building another one right up the street. That should be done early next year. So we’re bringing more of these on the market every every year, and the demand is there,” he said.
Later this month, the Nevada Housing Coalition will host a policy forum in Reno and Las Vegas on ways to solve the housing crisis.
​
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Source: Fox 5 KVVU-TV