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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.
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.
Under a new agreement, Southern Nevada governments will be able to buy public federal land for as low as $100 an acre for affordable housing projects, federal officials announced Thursday.
Clark County accepts five acres of land to build a 195-unit affordable housing project for area seniors.