LAS VEGAS, Nev. (FOX5) – Governor Joe Lombardo announced the largest affordable housing projects for the state of Nevada.
The Nevada State Infrastructure Bank approved $25 million in financing for the Desert Pines Golf Course to be converted to 1,400 new affordable housing units.
With the approval of these funds, the City of Las Vegas’ Desert Pines Golf Course will be turned into a new master-planned community for residents in East Las Vegas.
Governor Joe Lombardo said in a news release, “Nevadans deserve ample access to affordable and attainable housing options, and I’m proud to support the largest affordable housing project in Nevada history through the State Infrastructure Bank. Through projects like this, we’re helping secure the next generation of Nevada homeownership.”
The project is estimated to cost $450 million, and the first phase of the development is expected to be more than $57 million.
Details of the project:
- 1,082 affordable multi-family housing units
- 280 market rate housing units
- A 10,000 sq. ft. community center
- A 10,000 sq. ft. early education center
- A 30,000 sq. ft. job training center
- 75,000 sq. ft. of commercial space.
Governor Lombardo’s news release said non-profit Urban Strategies will get a loan for $25 million to help the project with the preliminary infrastructure financing.
Requirements of the project:
- Utilize a Project Labor Agreement
- Hire at least 50% of local Nevada residents for construction and development of the Project
- Pay State prevailing wage rates to all workers on the Project
- Ensure that 15 percent of all workers on the Project are registered apprentices
- Prioritize the hiring of disadvantaged workers on the Project
The first phase of this affordable housing project is expected to create more than 1,000 jobs in Las Vegas and will bring 2,475 construction jobs and more than 4,900 supplier jobs.
The governor is expected to announce more information on this project soon.
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