Flamingo Pines – Las Vegas, NV
Clearinghouse CDFI provided $1,350,000 in long-term financing for development of a new apartment building with 66 affordable housing units serving seniors 55 years and older.
This project will serve low-to-moderate income seniors in an area where only 2 out of every 10 renters have access to affordable housing. 52 of the units will serve Seniors with 40% AMI, one unit at 30% AMI, and 13 units at market rate. The complex will include a community center and pool area with activities for the residents.
Flamingo Pines is a Nevada company formed by Nevada H.A.N.D., Inc. (Nevada HAND). Nevada HAND is a nonprofit organization dedicated to providing affordable housing solutions for Southern Nevada’s rapidly growing population. Nevada HAND has spent over 25 years working to ensure Seniors maintain their independence in communities they are proud to call home.
Download the PDF: Just Funded – Flamingo Pines LP
We are tremendously grateful to Clearinghouse CDFI for entrusting us to maximize their investment in affordable housing for community benefit. Flamingo Pines is one of Nevada HAND's independent senior communities that is located in the heart of the Southwest Valley of Las Vegas. By providing financing for the project, Clearinghouse CDFI was instrumental in helping Nevada HAND to create 132 units of affordable housing that serves 158 residents. This partnership contributes to strengthening the financial health and well-being of the broader community that we serve.
- Daigo Ishikawa, Project Manager, Nevada HAND
Financing Provided:
$1,350,000 Loan
Location:
Las Vegas, NV
Impact:
- Provides 66 Units of Affordable Housing for Low-to-Moderate Income Seniors
- 52 Units for Seniors with 40% AMI
- One Unit for Seniors with 30% AMI
- 13 Units for Seniors at Market Rate
- Onsite Community Center and Pool Area
Purpose:
Long-term, Fixed-Rate Financing
Year Funded:
2021
