The Las Vegas City Council approved $1M in funding for Tropicana Trails, a planned affordable housing project near East Tropicana Avenue and Boulder Highway.
The 50-unit apartment complex will provide a home for formerly homeless people, people at risk of becoming homeless and victims of domestic violence.
The $1M in funds from Vegas will go toward the approximately $21.5M project. The project is also being funded by the Nevada Housing Division, Clark County and the Federal Home Loan Bank of San Francisco. Now that Vegas has committed funding the housing complex, all funding has been approved.
Approximately $12M of funding comes from the American Rescue Plan Act. Clark County provided an additional $8.4M.
George Gekakis Inc., the developer, acquired the 2.5-acre plot of land in May for $2M. The nonprofit HELP of Southern Nevada will be administering the complex. HELP will provide tenants with a variety of services to help them get back on their feet.
Potential tenants must qualify under guidelines set by the HOME Investment Partnerships American Rescue Plan Program. Rental assistance will be provided by the Southern Nevada Regional Housing Authority.
Apartment amenities include a library, business center, wellness and computer rooms, and a courtyard. Utility costs will be included in the rent.
Construction is anticipated to begin in April 2025, with a targeted completion date of summer 2026. (Source)
