New affordable-housing complex opens in Las Vegas
A local apartment developer has opened another affordable-housing complex in Las Vegas amid a steep shortage of such units in Nevada.
Ovation Development Corp. announced Tuesday that it opened Heirloom at Rome, a 276-unit community for low-income seniors. The complex includes 38 stand-alone “tiny homes” with 400 square feet of living space, as well as one- and two-bedroom apartments that span 664 to 891 square feet.
The $78 million project is at the corner of Rome and Decatur boulevards in the northern Las Vegas Valley, and the first residents started moving in on Sept. 1, according to a news release.
Its amenities include fitness and wellness rooms, as well as a game lounge, business center and clubhouse.
Nevada, with the bulk of its population in the Las Vegas Valley, has long needed an increased supply of affordable units.
Overall, Nevada has a shortage of nearly 78,000 affordable and available rental homes for extremely low-income tenants, according to the National Low Income Housing Coalition.
Ovation, founded by Alan Molasky, is among the biggest apartment developers in Southern Nevada, with a portfolio that includes luxury projects and affordable buildings.
The company said Tuesday that it has now completed 17 affordable-housing communities.
In a sign of the demand for such units, the company said, it opened a senior affordable-housing project in May that is already more than 89 percent leased.
That project, the 195-unit Heirloom at Pebble, is near the intersection of Eastern Avenue and Pebble Road in the southern valley.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.
