Ovation Development Corp News Today

Alan Molasky, chairman and founder of Ovation Development Corp., announced that Ovation and its nonprofit partner, Coordinated Living of Southern Nevada (CLSN), were awarded two grants totaling $21.9 million from Clark County Community Housing Funds (CHF) for the development of two affordable housing projects.

The unincorporated area is seeing a boom in residential and commercial space.

The Nevada Housing Coalition estimates the state has a deficit of more than 105,000 affordable units and is short roughly 84,000 units for extremely low-income renters, or those earning 30 percent or less of the area median income.

Today, Governor Sisolak, joined by federal, state and local partners, officially launched the “Home Means Nevada” housing initiative and opened applications for developers.

NEW YORK, NY - Dwight Capital closed over $297.8MM in financings during February. Featured among Dwight’s transactions are a HUD new construction loan for Deer Springs Apartments and bridge loans for Summer Brook Health Care, Terrace at Hobe Sound, and Huntwood Terrace Apartments. The bridge loans were closed through the firm’s commercial mortgage REIT, Dwight Mortgage Trust. Dwight provided a $60.98MM HUD 221(d)(4) new construction loan for Deer Springs Apartments, a 334-unit...