As part of the J Resort's redevelopment of the Reno Neon Line, Jacobs Entertainment has opened the Gibson Building.
Originally, the company had promised to make at least 10% of its residential properties dedicated to affordable units.
With the opening of the new building, the company says it has surpassed that initial goal.
The current phase of Jacobs' residential building efforts include 47 units at Renova Flats, 18 units at the newly-opened Gibson Building, 60 units at their North Arlington Building and 59 units at the upcoming Bonanza Inn.
CEO Jeff Jacobs says that the company has decided to operate all of those buildings except the North Arlington Building as 100% affordable housing properties for seniors and workforce renters, resulting in 124 units—or 67% of their 184 total units—being made available for affordable housing.
Jacobs Entertainment is also currently in the process of working on the development of 64 senior housing units, which are being developed on behalf of the Reno Housing Authority.
"Successful development and revitalization require careful planning and long-term commitment," said Jacobs. "We’ve replaced blighted, substandard motel units not fit for human habitation with new, high-quality units and we're on track to exceed our commitment to deliver many affordable units downtown."
