LAS VEGAS (FOX5) — Around 120 units at one East Las Vegas Valley apartment complex will remain affordable housing after Clark County approved $6 million from the Welcome Home Community Housing Fund.
The rent restrictions on Paseo del Prado community off Warm Springs Road and Lake Mead Parkway were set to expire on December 1, according to County officials.
The complex aids residents who earn 60% of the Area Median Income; on the complex’s website, a single resident must make a maximum of $44,000 a year. The website lists income restrictions with household numbers.
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County officials explained efforts to preserve affordable housing units and add more options.
“If existing affordability restrictions expire and the units convert to market rate or are sold, residents are at risk of rising rents and even eviction… Our office has been working with the developer, Fairway Multifamily, on an acquisition and rehab of these apartments that will preserve them as affordable for another 50 years,” said Dagny Stapleton, Community Housing Administrator at the County’s September 15 Board of Commissioners meeting.
The funding will maintain the Paseo del Prado community as affordable housing for the next 50 years, County officials said; the complex and individual units will receive upgrades starting in 2027, which include full unit interior upgrades, new windows, HVAC, full plumbing repipe, exterior and roof upgrades, new security, dog park, pool upgrades, lighting replacement, landscaping enhancements, and parking lot resurfacing.
Projected start date is in early 2027 with completion in 2028; funding agreements will be in place early next year, officials said.
Residents tell FOX5, they are glad to maintain their rent prices based on income.
“It’s hard to find something in this rental range. As it is, I swing by different Nevada Hand locations when I’m in the areas and just check–’Do you have any availabilities?’ And the answer is always no,’” said resident Tim, who has a brain injury and needs a first floor unit.
Since 2022, the County has assisted with rehabilitation or construction of 5,800 affordable housing units across the Valley, officials said.
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