Reno City Council unanimously voted to create an agreement that would transfer four acres of land at 250 Sage Street to be used for affordable housing.
The city would give ownership of the land to the Community Foundation of Western Nevada, who would create four buildings with a total of 200 single-occupant rooms. The city could award another acre of land if they agree with the community foundation to build another 100 rooms on the lot.
"There will be washer and dryers available," Chris Askin, President for Community Foundation of Western Nevada, says. "There will be a kitchen room, a recreation room, a gym, a dog park, you can bring your dog and live in this facility."
Rent has not been officially decided, but the plan is to have it around 400 dollars, all utilities included. One reason for the low rent, the facility will be run by the community foundation, a non-profit organization.
"The rents that are paid will actually go towards the operation," Bill Thomas, Assistant Reno City Manager, says. "So it's a non-profit operation where it's not about making money off the housing."
Another reason is the community effort to reduce construction costs.
The project was set to cost $8 million. The land transfer from the city saves $1 million. Financing the buildings saves the foundation $2 million. Developers and contractors are estimated to donate about $1 million, and other donors have already given a total of $800,000, so the total cost is now $3.2 million.
"The only reason this project is coming together is because of people in the community, in other words, the private sector," Thomas says. "The city could not do a project like this on its own."
Hillary Schieve called it a creative way to provide affordable housing. Thomas says that's what's necessary to get rent this low in this market.
"The marketplace just cannot and is able to provide this type of housing with the cost of land, construction, utilities," Thomas says.
Renters must prove they make no more than 60 percent of the median income for the area to be eligible.
The city council is expected to approve the agreement June 6. If they do, and everything goes to plan, Askin says applications will go out as early as October, and the first residents could move in by Thanksgiving.
If you want to learn more about the site or donate to the foundation, you can learn more here: http://nevadafund.org/housing
