$25 Million Loan Kickstarts Nevada’s Largest Affordable Housing Initiative in East Las Vegas

The State Infrastructure Bank has obtained a sizeable $25 million loan to start the first phase of the Desert Pines Redevelopment Project, which is a major step in resolving Nevada’s housing issue. According to 8 News Now, the East Las Vegas golf course will soon be transformed into a master-planned community, an endeavor that is expected to cost $450 million in total.

The massive project will replace the golf course with 280 market-rate flats and 1,082 affordable multi-family housing units. A 10,000 square foot community center, a 10,000 square foot early education facility, a 30,000 square foot job training center, and 75,000 square feet of commercial space are also part of the ambitious proposal. According to the information supplied by KTNV, these facilities will help create jobs and foster community development in addition to provide accommodation.

The project’s impact on homeownership and the local workforce excited Nevada Governor Joe Lombardo. “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,” he said. “We’re helping secure the next generation of Nevada homeownership through projects like this,” according to 8 News Now.

According to a news release from the State Treasurer’s Office, the project will create about 7,400 job opportunities in addition to building residences. With 4,905 supplier and induced jobs and 2,475 projected direct construction jobs, the development is a major driver of economic growth in East Las Vegas. Strong worker safeguards are also included in the employment plan, which guarantees the payment of prevailing wages and mandates that at least half of the workers be local residents. According to KTNV, enrolled apprentices will account for a noteworthy 15% of the workforce.

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