Tuesday, Aug. 8, 2017 | 3:04 p.m.
CARSON CITY — The state Board of Finance today approved sale of $30 million in bonds to build a 272-unit apartment complex for seniors in Las Vegas.
The project, Tenaya Senior Apartments, will start construction in six months and be completed in early to mid-2019. Ovation Development Corp. and Consolidated Living of Southern Nevada are the developers of the project south of Craig Road on Tenaya Way.
The developers will use rent money to retire the debt.
Nevada Housing Division Administer C.J. Manthe a family of two must earn no more than $30,240 a year to qualify to lease an apartment. Rents for a one-bedroom unit will be $709 a month and a two-bedroom will go for $851.
The board also approved issuing $31.1 million in bonds to help in the expansion of the Doral Academy of Nevada charter school in Las Vegas.
The bonds will finance a 58,029-square-foot school building on Cactus Avenue and a building on West Saddle Avenue.
