Ovation Development News Today

Raul Cardoza leaves behind daughters aged 18 and 20 and his boss who said he regarded him, an employee for 25 years, “like a family member.”

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.

When state lawmakers allocated a quarter of a billion dollars of federal American Rescue Plan (ARP) funds last spring to develop and preserve affordable housing, they were aiming to alleviate Nevada’s increasing housing costs — which at that time were skyrocketing to record levels.

In modern times, states fund job training, hoping that putting people to work will overcome economic need, which often leads to homelessness.

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.

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...

Tru Development has obtained US$246 million in development finance for two housing complexes totalling 716 units in Nevada.