JV Breaks Ground on Affordable Las Vegas Projects
Two developments will add more than 200 units to the metro’s inventory.
A joint venture of The Michaels Organization and the Southern Nevada Regional Housing Authority has broken ground on two affordable housing projects encompassing a total of 201 units in Las Vegas.
Duncan and Edwards will take shape at 5901 W. Duncan Drive and comprise 80 units upon completion. The other development—28th and Sunrise—is at 2601 Sunrise Ave. and will 121 affordable units to Las Vegas’ inventory when finished.
The construction sites are roughly 9 miles from one another, connected via thoroughfares such as U.S. Business Route 95 and Interstate 11. Downtown Las Vegas is less than 2 miles from the 28th and Sunrise site.
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Each project will consist of seven buildings comprising one- to four-bedroom floorplans, Yardi Matrix data shows. Across both developments, the units will cater to residents earning up to 30, 50 and 80 percent of the area median income. Additionally, each community will receive 60 rental assistance vouchers, according to a Nevada State Board of Finance meeting.
For the construction of 28th & Sunrise Apartments, the development crew requested the issuance of up to $26 million in bonds of Nevada Housing Division, the same source shows. The financial stack also includes a $21.4 million U.S. Bank equity infusion in exchange for the 4 percent LIHTC generated by the project.
Duncan & Edwards Apartments’ development called for the issuance of $20 million in bonds of Nevada Housing Division, the meeting reveals. U.S. Bank would also buy the generated 4 percent LIHTC for $16.5 million.
Affordable deliveries in Vegas
Metro Las Vegas had nine fully affordable projects under construction, totaling more than 1,100 units, as of March 2025, according to Yardi Matrix data. Of these, 663 units are expected to debut this year, the data provider forecasts.
The figure is mostly aligned with the nearly 700 units that came online in fully affordable communities last year, the same source shows. One of the developers tackling Las Vegas’ affordable housing challenges is Nevada Rural Housing Authority, which opened Hafen Village Apartments in Mesquite, Nev., last April.
