Michaels Opens Las Vegas Affordable Property
The community caters to households earning between 30 and 80 percent of the area median income.
The Michaels Organization, in a partnership with the Southern Nevada Regional Housing Authority, has officially opened Beals-Henderson Pointe, an 80-unit affordable housing community in Las Vegas. Apartments cater to households earning at 30, 50, 60 and 80 percent of the area median income.
Beals-Henderson Pointe, formerly Duncan & Edwards, consists of six residential buildings encompassing one- to four-bedroom floorplans that average 859 square feet. Amenities include a clubhouse, a playground, barbecue stations, a dog park and a sports court, among other features.
Located on a 5-acre site at 5901 Duncan Drive, Beals-Henderson Pointe is within walking distance of Business Route 95 and some 2 miles from Interstate 11. Several parks, retail stores and quick service restaurants are within a 1-mile radius.
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Michaels broke ground on the public-private project in 2025. Two loans totaling $15.8 million, issued by the SNRHA and Nevada Housing Division, financed its construction, according to Yardi Matrix.
Additionally, the Nevada Housing Division issued $20 million in tax-exempt bonds with U.S. Bank as the funding lender, the same source shows. Further funding included 4 percent LIHTC, as well as American Rescue Plan Act grants administered through the Home Means Nevada Initiative.
Michael’s affordable housing efforts
Michaels is the largest private sector owner of affordable housing in the U.S. The company’s expertise spans from single tax credit communities to mixed-income and revitalization projects.
Beyond developing affordable multifamily projects, much of the firm’s portfolio growth came through acquisitions. One significant deal, involving an eight-asset collection, closed last year. Michaels purchased the 606 units across Michigan and Indiana from Center Management.
