Affordable LV Sr. Housing Project Fully Funded

Ovation Development Corp. and Coordinated Living of Southern Nevada have received financing and an agency grant to develop a 194-unit affordable senior housing project in Las Vegas. Commercial Edge reported last year, Ovation received a $60.3 million construction loan. The construction loan was provided by the Nevada Housing Division, Citibank and Wells Fargo. Clark County also provided $ 11.8 million in funding for the project. The community will break ground at the end of next year.

The affordable and age-restricted community to rise at Pebble Road and Eastern Avenue will serve seniors earning 30, 50 and 60 percent of the area median income. Upon completion, the four-story building will feature one—and two-bedroom floorplans ranging between 689 and 905 square feet. Common-area amenities will include a swimming pool, a fitness center, a game area, a spa, outdoor courtyards, community gardens, laundry facilities and controlled access.