November 2007 

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Affordable Housing Continues To Be Priority For City Council

As affordable housing remains an issue for our community, the Las Vegas City Council continues to work on ways to find new housing options for local residents. Two recent events have helped the city get one step closer to its goal.

The public and private sectors have joined once again to break ground on another affordable housing option. The Stewart Pines III Senior Apartments, located at 233 N. 13th St., is a 57-unit community with one- and two-bedroom apartments, which include fully-appointed kitchens, ceiling fans, central heating and air conditioning, and a patio or balcony. The community will also feature a free common area, laundry facilities, a computer center, a fitness center and a fully-equipped medical exam room.

Funding for the senior community was made possible by a team of dedicated private and public partners including: an $8.4 million investment of low income housing tax credit equity provided by MMA Financial, LLC., $1.25 million of HOME/LIHTF funds from the city of Las Vegas and $750,000 of HOME/LIHTF funds from Clark County.

The city is also looking for new recipients for Low Income Housing Trust Funds (LIHTF). This is the same funding that contributed to the Stewart Pines III project. The city is currently requesting proposals from Nevada-based nonprofit organizations, 501©(3) or 501©(4), or for-profit developers, for the purpose of providing funding to create and increase affordable housing for lower income households.

Approximately $6 million is available in LIHTF for affordable housing. The deadline for submitting completed applications is Thursday, Nov. 29, 2007, at 3 p.m. in the city’s Neighborhood Services Department, located at 400 Stewart Ave., on the second floor of City Hall.

The City Council has made affordable housing a priority and has worked with local organizations to develop new options for residents. This priority became all the more important with the continued rise in housing prices. Last year, the city celebrated the opening of the Bonanza Pines III Apartments on the city’s west side and unanimously approved plans for seven new affordable homes to be developed by Habitat for Humanity.

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