Ovation Design & Development, a local multifamilial housing promoter, organized the inauguration of Arioso, an affordable rental community from 195 dwellings for low-income elderly in the southwest of Las Vegas.
The complex is part of Ovation’s commitment to providing high-quality living centers, with recreational and residential service components, for low-income seniors, many of whom live on fixed incomes.
The founder of Ovation, Alan Molasky, was joined by Governor Steve Sisolak and the County Commissioner of Clark, Justin Jones, to celebrate the opening and use the opportunity to discuss the need for a concerted plan to answer to the growing shortage of housing options for low-income seniors and working families.
“The need for affordable housing and supportive senior housing in the Las Vegas Valley is well documented,” Molasky said. “South Nevada already has a desperate shortfall, and with an increasing elderly population, it is estimated that 85,000 additional affordable dwellings will be necessary over the next 10 years to meet demand.”
Clark County, local municipalities and the State of Nevada have made it a priority to meet this challenge. “I’m proud that work is being done at all levels of government and with community partners, like Ovation, to address Nevada’s affordable housing crisis,” Sisolak said. “With my $500 million ‘Home Means Nevada’ investment, we will work with partners across the state to build more affordable housing, get Nevadans into homes and keep them in their homes, and create jobs. well paid.”
“As a county, we focused on facilitation and funding for construction and rehabilitation of affordable housing in our community, and this need increased considerably in last year,” said Jones, who represents the Arioso site. “Affordability is hugely important for people on fixed incomes, and Arioso provides a safe, spacious, and most importantly, affordable place to live.”
“As a community, we need to work together to address our housing challenges, and Arioso represents the exceptional work we can do when all partners: HUD, the State of Nevada Housing Division, design and development standing ovations and Coordinated Southern Nevada Life are working together to help serve some of our most vulnerable residents,” Jones said. Arioso was made possible in part by $1.5 million of HUD HOME Investment Partnerships program funds, which were provided to this development by Clark County.
Arioso is one of 13 affordable senior housing communities built and operated by Ovation, totaling nearly 1,900 units, with more planned for the future. The Energy Star community, includes one and two bedroom units and with a recreation/wellness center, swimming pool and jacuzzi, social gathering spaces and other amenities.
On-site support services are also provided on a continuous basis, such as health and well-being workshops, exercise and nutrition courses, social outings and community events, and transport assistance provided by community partners with Coordinated Living of Southern Nevada, a nonprofit organization managing resident services to multiple communities where low-income seniors in Nevada can age in place with choice, dignity and personal fulfillment.
“As rents continue to escalate, our seniors have limited access and options for affordable housing,” said BJ Wright, executive director of Southern Nevada Coordinated Living. “Ovation, in partnership with Coordinated Living of Southern Nevada, continues to lead the way in demonstrating that senior housing can be both beautiful and affordable. These buildings provide a safe and comfortable home, connect residents to needed services, and give them a sense of dignity and community.
Funding for Arioso included the use of exempt tax bonds issued by the Nevada housing division, equity from the sale of tax credits for low -income housing at 4% non -competitive, Clark County Home Investments and Growing Funds Affordable Housing Program (GAHP) designed to help create innovative, quality affordable housing opportunities.
“Wells Fargo wishes to congratulate Ovation for the successful completion of another affordable apartments for seniors from 195 units,” said Paul Buckland, Managing Director of the Community Lending & Investment group at Wells Fargo. “We are proud to work with Ovation to create an affordable and attractive home for seniors. The team’s values align with ours and this project is an example of private and public sectors working together towards achievable affordable housing goals in Nevada. »
“The rise in land prices and the rapid climbing of construction costs have practically made it impossible to build affordable housing without incentives and creative financing programs to support them,” said Molasky. “Ovation is proud to be part of Southern Nevada’s affordable housing community, where all levels of federal, state, and local government work together with private for-profit and non-profit organizations to build homes that meet this critical need. »
Arioso is at 9270 Quarterhorse Lane. For rental or information, visit seniorLasvegasliving.com or call 702-990-2678.