Southern Nevada’s affordable housing problem commands imaginative solutions
“’This is a creative solution that will provide working families with an opportunity to own a home,’ Commissioner Justin Jones told Horwath. ‘We’re already looking at other opportunities like this. We wanted to get this one rolling first to see how the process works and what the interest level is […]
These escalating prices put homeownership out of the reach of many working-class families, which is a problem for everyone in our community. For Las Vegas to continue growing and prospering, it’s a fundamental need to provide affordable housing to the individuals who form the backbone of our economy — resort workers, construction workers, etc.
Right now, we’re a long way from meeting that need. According to the National Low Income Housing Coalition, the region is short of affordable homes for extremely low-income residents by nearly 85,000.
But we’re seeing progress. Local governments are getting more creative and are working with developers to make construction of affordable housing pencil out for them financially.”