LAS VEGAS (KLAS) — An affordable housing development broke ground Monday in North Las Vegas. Lake Mead West Apartments is a 156-unit located near Texas Station.
“High-quality affordable housing is a critical need in Southern Nevada, and Lake Mead West Apartments will be a much-needed community in North Las Vegas,” said Hassan Chaudhry, principal of Foresight Companies and developer of Lake Mead West Apartments. “Creating a project that is a true public-private partnership to benefit our working families requires intensive collaboration among numerous agencies and entities, but is worth the hard work for the community benefit.”
The complex will have one, two, and three-bedroom units with below-market rents, according to the developer. Currently, fair market rent in the area starts in the $900s.
“Affordable just means that there is an opportunity for someone to pay less in rent. it doesn’t mean the quality of construction is low somehow,” Chaudhry said.
The gated $31.5 million complex will have 156 units, a dog park, and a bar-b-que. It will also provide ‘Wrap Around Services’ that include access to affordable health care, a food pantry, after-school programs for students, social services, computer/internet workstations, and a children’s play area.
The project is a public-private partnership with the City of North Las Vegas, Nevada Housing Division, Foresight Companies and a private investor called Red Stone.
It is expected to finish in spring 2023.