Las Vegas, NV (KXNT) - County Commissioners on Tuesday took a significant step towards creating an affordable housing development in which the homes would be sold to eligible families. This would be the first for-sale affordable housing development in Clark County, as previous affordable housing developments here have offered homes for rent.
The commissioners voted 7-0 to work with developer Kavison Homes on a plan to build more than 100 single-family homes on 15 acres along Cactus Avenue, east of Buffalo Drive. After the County and the developer negotiate a development agreement, the County will then work with the U.S. Department of Housing and Urban Development and the U.S. Bureau of Land Management to transfer the property to the County.
“This is exactly the kind of development we want to see in our community to make homeownership affordable for teachers and other working families in Southern Nevada,” Commissioner Justin Jones said, adding that the planned development would be near his home.
In August, the average price of a home in Southern Nevada reached $405,000, which is unaffordable for many local households. Qualifying families would earn less than 80 percent of the area median income. For example, a qualifying family of four could earn about $64,000 annually or less.