Reno-based GreenStreet Cos. and Vintage Housing intend to break ground tomorrow on an affordable housing project dubbed Steamboat by Vintage. Households earning at or below 60 percent of the area’s median income can apply for one of the 360 units to be built in Northern Nevada.
Steamboat by Vintage is expected to be completed during the summer of 2019, with rents estimated to be $500 or more below market rents in the area. Situated on roughly 18 acres across the street from Summit Mall, the property will rise on the southeast side of the intersection between Highway 341 and South Virginia Street along Steamboat Creek.
The community is set to encompass a mix of one- to three-bedroom units in 15 buildings. Apartments are slated to include EnergyStar appliances, LED lighting, energy-efficient heating and air conditioning, full-size appliances, washers and dryers as well as exterior patios or balconies. A 4,085-square-foot clubhouse—with fitness center, community room and swimming pool—is also part of the project.
“This is the first new large rental community in 15 years that is being built at a level that the average working family can afford. With the extreme rent increases we have seen in Northern Nevada, these 360 new apartments will give working families an affordable opportunity to live in a brand-new, very high-quality apartment community,” said Jim Zaccheo, co-founder of GreenStreet Cos., in a prepared statement.
Image courtesy of GreenStreet Cos.