Tuesday, Nov. 10, 2015 | 12:16 p.m.
The state Board of Finance today approved the sale of $23 million in bonds to help pay for a low-cost-housing project on Boulder Highway.
CJ Manthe, administrator of the Nevada Housing Division, said her agency’s annual survey shows there’s a need for low-rent apartments.
Nevada H.A.N.D. will develop the project, and Chief Executive Officer Michael Mullin said it will be close to bus lines and schools.
The project will consist of 168 units over 7.9 acres at 4405 Boulder Highway. It will consist of a recreation building, an exercise room, a community room and a library/study/business room.
Washers and dryers will be included in each unit. Outdoors there will be a swimming pool and spa, child-play area, dog park and picnic area.
Rent will be $675 for a two-bedroom apartment, $777 for three bedrooms and $877 for four bedrooms. Ten of the units will be priced at market value, allowing for lower rent for low-income residents.
Gov. Brian Sandoval, who serves as chairman if the Board of Finance, urged Mullin to work with transportation officials to put in a pedestrian crossing. He said there is a 50 mph speed limit on Boulder Highway, and he doesn’t want to see any accidents.