78-Unit Affordable Housing Community Opens in Las Vegas
- Feb 06, 2008
By Anuradha Kher, Online News EditorLas Vegas–Horizon Crest Family Apartments, the 78-unit gated rental community for families with low-income and special needs, recently opened at 13 West Owens Ave. in Las Vegas. The community was developed by Nevada H.A.N.D., Inc. in partnership with The Salvation Army and the city of Las Vegas. “KKE has had a long relationship with Nevada H.A.N.D. in designing projects for the affordable needs of family, senior and special needs,” says Doug Ahlstrom, director of housing at KKE, the architectural firm that designed Horizon Crest. The $12.9 million community project includes two- and three-bedroom apartments with rents starting at $507 per month. Qualifying renters may have an annual income as low as $12,630 for a one-person household and $20,910 for a family of six. Several residences are specifically suited to meet Americans with Disabilities Act (ADA) needs for accessible and independent living. Twelve units are dedicated to the chronically homeless or disabled. The Salvation Army will provide all the necessary support services to residents on their adjacent campus. The Nevada Housing Division’s 2003 survey of South Nevada showed 11.4 percent of the area’s apartments are affordable. Its 2002 report, “Nevada Special Needs Housing,” estimated in the greater Las Vegas area there are 110,000 people with physical and self-care limitations, 27,500 people with Alzheimer’s or dementia, 25,000 people with mental illnesses, and 16,300 people and families who are homeless. Horizon Crest apartments are 754 to 1,228 sq. ft., and have private balconies and patios, gated community clubhouse, fitness center, computer center with Internet access, on-site management and a 24-hour emergency maintenance. The Horizon Crest Family Apartments were made possible by a team of private and public partners. The National Equity Fund provided a $9.8 million investment of tax credit equity. The City of Las Vegas contributed $2 million of HOME Funds. Wells Fargo Bank supplied $2.5 million in construction financing. HSBC supported the development with a construction interest buy-down and the U.S. Department of Housing and Urban Development provided $750,000 in Continuum of Care Funds from its Supportive Housing Program.