Nevada public lands to be sold at discounted prices for affordable housing

Federal public lands in Nevada will soon become available for sale at prices far below market value to spur affordable housing projects.

The U.S. Department of Housing and Urban Development and the Department of Interior signed a memorandum of understanding that establishes a process to sell eligible public lands for as little as $100 per acre to state or local jurisdictions.

Land in the Las Vegas area has soared in recent years, with some appraisals pricing it at more than $2 million an acre.

“Through an all-of-government effort, the Department of the Interior is helping deliver on President Biden’s priorities to lower housing costs and expand housing supply,” Deputy Secretary of the Interior Tommy Beaudreau said in a statement.

“We are proud to partner with the Department of Housing and Urban Development, the state of Nevada and local governments to make it easier for residents to access affordable housing,” he said.

Adrianne Todman, Deputy Secretary of HUD, said the agency is “proud of this partnership with the Department of the Interior to help families in Nevada get access to homes they can afford.”

The memorandum formalizes an updated sales process that specifies public lands be made available for Nevada or local governments for the $100-per-acre rate.

The plan is allowed under the Southern Nevada Public Land Management Act of 1998, which allows the Bureau of Land Management to sell public lands around Las Vegas for development.

The act, however, required parcels be sold at fair market value to fund education, water and public lands projects in the state.

But a provision in the law allows state and local governments to purchase land at reduced cost to support affordable housing.

Thursday’s announcement was cheered by members Nevada’s congressional delegation.

U.S. Sen. Catherine Cortez Masto, a Democrat, said the updated policy cuts through red tape that will allow developers to get to work quicker.

“Nevada is facing an affordable housing crisis and we need to be doing more to ensure we can build more homes for working families,” Cortez Masto said in a statement.

“For too long, developing affordable housing on public lands in Nevada has been bogged down by an inefficient process, and I pushed for these vital improvements that will make it easier to build more homes for Nevada’s working families,” she said.

The new guidelines, which Cortez Masto’s office said came after “repeated advocacy” from the senator, will streamline the way federal lands are conveyed for affordable housing projects.

U.S. Rep. Steven Horsford, a Democrat whose district encompasses North Las Vegas and some rural areas upstate, said the announcement is a “huge step” to bring affordable housing for all Nevadans.

“With the availability of federal land for just $100 an acre for affordable housing projects, we are making strides toward a more equitable housing future and an economy that works for everyone,” Horsford said in a statement. “I applaud this interagency collaboration that will expand housing access and lower costs for Nevadans, and make the American dream attainable for even more of our residents.”

Democratic U.S. Rep. Dina Titus said experts estimate Southern Nevada could use up to 84,000 additional housing units to adequately address housing accessibility.

“I’ve advocated for years for increased investment in affordable housing, and today’s announcement is a welcome step in that direction,” Titus said in a statement. “As a longtime champion of putting SNPLMA funds to work for Southern Nevada, I know that today’s actions will meaningfully increase access to low-cost housing in our communities, especially for the nearly 14,000 residents who were unhoused last year.”