LAS VEGAS, NV – Funding has been approved for a new affordable housing complex within Las Vegas, with the city council last week earmarking $1 million in public funds towards the $21.5 million project.
Upon completion, “Tropicana Trails” – being developed by George Gekakis Inc. – will be comprised of 50 studio apartments, built upon a 2.5-acre plot of land in unincorporated Clark County slated to be located near East Tropicana Avenue and Boulder Highway. Units will be primarily aimed at being made available to people who had previously been homeless, those who are in danger of becoming homeless, and survivors of domestic violence.
In addition to the $1 million provided by city officials – the final batch of funding that required official approval – the remainer of the funding for the project is coming by way of the Nevada Housing Division, Clark County, and a $1 million grant provided by the Federal Home Loan Bank of San Francisco, according to Gekakis Executive Vice President David Paull.
“We’re very excited to see this go,” he said.
HELP of Southern Nevada, a not-for-profit group that assists members of the Southern Nevada homeless community, will serve as administrators of the complex once it opens. Prospective tenants will be required to meet certain qualifications set by the federal HOME Investment Partnerships American Rescue Plan Program, and rental assistance will be provided by the Southern Nevada Regional Housing Authority.
According to Las Vegas city officials, construction on Tropicana Trails – the land upon which its being built was purchased by Gekakis in May of this year for $2 million – is scheduled to start in April 2025, with an estimated completion date of summer of 2026.
Once completed, the complex will include amenities such as a library, computer, wellness and business rooms, and a garden courtyard; utilities will be included in the rent.
For more information visit: https://ggidevelopment.com/december-news/
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