A $120 million measure has been approved by Clark County commissioners in order to develop 3,100 homes for seniors and low-income households.
The initiative is part of Welcome Home, a county government project housing fund created in April that aims to provide affordable housing for members of the community, a recent Clark County news release said. These are the first funds of this kind provided by a local government in Nevada.
“This is an exciting and historic day for Clark County,” Commission Chairman Jim Gibson said in the release.
The project is aimed at fulfilling the housing needs of seniors and families in the community who are unable to find affordable housing despite being employed, the release said. In this demographic, there is an estimated shortage of 85,000 homes.
“Through Welcome Home, Clark County’s Community Housing Fund, we are partnering with the private sector to construct or rehab, operate and maintain more than 3,100 homes across our community for families, seniors, and others most in need of safe, modern and affordable housing,” Gibson said. “Through the county’s investment in Welcome Home, we are pursuing long-term solutions to the affordable housing challenges we face in our region to help ensure that more of our residents have a place to call home.”
The County has been in talks with affordable-home developers to define who will be eligible for the program. The funds are expected to back the development of 2,139 new homes and the renovation of 967 homes.
