On September 6th Clark County voted to allocate nearly $120 million to help build or renovate approximately 3,100 affordable housing units. The capital is sourced from the county’s $160 million “Community Housing Fund.” The Community Housing fund was created in April in response to the pandemic.
According to the Las Vegas Review Journal, Clark County estimates a shortage of more than 85,000 affordable homes for low-income residents. This money will be used to supplement the $800 million in construction costs for 2,193 new housing units and rehabilitation of additional 967 already-built units. 30 projects were already chosen through a rigid process. The projects include $12.5 million for 276 new units for seniors near Decatur and Rome boulevards, $4 million for 176 new family apartments at 4000 E. Desert Inn Road, and $12 million to renovate 237 units near downtown Las Vegas at the Desert Rose Apartments.
Read more here: https://www.reviewjournal.com/news/politics-and-government/clark-county/clark-county-approves-120m-for-affordable-housing-projects-2635162/