Nevada has approved $38.16 million for 10 housing development projects expected to support 891 homes and rental units across the state, adding to efforts to expand housing options for residents at a range of income levels.
The Nevada Attainable Housing Council approved the funding through the Nevada Attainable Housing Account, with projects ranging from land acquisition and single-family homes to multifamily rental apartments. The investment will support developments in Southern Nevada, Northern Nevada, rural communities, and Carson City.
Of the 891 homes and units expected, 454 will be homes for sale, and 437 will be multifamily rental apartments.
The funding follows a major housing investment approved during the 2025 Nevada Legislative Session. The account was established through Assembly Bill 540 and backed by a $133 million General Fund appropriation to expand attainable housing opportunities, including development, homeownership assistance, and partnerships with local governments.
Demand for the latest round of development funding exceeded the money available. The council received 23 complete applications seeking a combined $119.79 million, about 3.1 times the funding initially available for the category.
After reviewing the applications, the council selected 10 projects based on factors including readiness, geographic distribution, and their ability to secure additional funding.
The $38.16 million was divided among three categories. Land acquisition received $12.29 million for two projects expected to support 285 homes or units. Multifamily rental development received $8.325 million for two projects expected to provide 174 rental units. Another $17.545 million will support six single-family and small-scale residential projects expected to deliver 432 homes or units for ownership or rental.
The funding is also expected to bring in additional money from public and private sources, extending the impact of the state's investment. Across the approved projects, the average leverage ratio is 6.36, meaning about $6 in additional funding is associated with every $1 in funding from the Nevada Attainable Housing Account.
Among the projects approved for funding are Volunteer Apartments in Henderson, The Reserve at Sparks in Sparks, Golden Valley Homeownership in Reno, Kyle Canyon Townhomes in Las Vegas, and Pueblo Phase I in West Wendover. The list also includes E William Street Multifamily Adaptive Reuse in Carson City, the Welcome Home Community Land Trust, Rome Commons, Linda Topaz, and the Silver Springs Manufactured Homes Project.
The projects will use a mix of subordinate loans, grants, and rebates to support housing development, land acquisition, and homeownership opportunities, as well as rental housing for households across a range of income levels.
The investment is part of the state's broader effort to increase the supply of attainable housing. The approved projects are expected to expand options for both renters and prospective homeowners, with the additional public and private funding helping support development beyond the state's initial contribution.
