Nevada HAND to Add 150 Affordable Senior Apartments in the High-Cost Housing Market in Las Vegas

Community Housing Capital (CHC) has been helping Nevada HAND (NVH) turn vacant land into affordable housing since 2017, including the 480-unit Decatur and Alta affordable apartment community, NVH's largest affordable housing project. CHC’s most recent loan of $3.13 million financed the acquisition of five acres of vacant land on which NVH will develop up to 150 units of affordable senior housing in a high-demand, high-cost area of Las Vegas. NVH will use tax-exempt bonds and 4% LIHTC financing to ensure 100% affordability, and nearly 50 apartments will target residents earning less than 50% area median income (AMI). The new senior apartment project will be a four-story building with an elevator and ground-floor clubhouse/community space. NVH is a skilled developer emphasizing its Resident Services Department. Once development is complete, it delivers complimentary, supportive services in health and wellness, education, engagement, and economic stability.