LAS VEGAS (KTNV) — As rent prices go up, the ability to pay goes down for many. That’s why an affordable housing development is coming to North Las Vegas.
Principal of Foresight Companies and developer of Lake Mead West Apartments Hassan Chaudhry spoke to the crowd gathered at the site of the new housing: "Housing and healthcare are two key, important essentials for every household in our country. Easy access and affordability are the two components that bring them together."
The struggle to pay rent has been a long-told story in America, made worse by the COVID-19 pandemic. Add in trying to afford a nice home, and the stress increases tenfold.
That’s where affordable housing can come in — but this non-profit sector is facing challenges with not enough land and the increasing cost of labor.
"I believe we are leading the pack right now as the number one in the nation that has the least amount of affordable housing," said Michelle Merced, the CEO/president of Neighboring Housing Services of Southern Nevada.
New developments are popping up, like the Lake Mead West Apartments in North Las Vegas, and there are plans to break ground in Mountain’s Edge.
However, housing is a big fight with a big stigma. Merced recently had a conversation with someone who lives in Mountain’s Edge, where they are planning an affordable housing development. She described some residents as "NIMBYs."
"He told me they are worried about who is moving in. I asked him where was he 12 years ago and he said, 'I was a single dad, and I just got my first house.' Then I said, 'that’s all you have to look at,'" Merced said. "They still have to be eligible for a mortgage. They still have to pay their mortgage. You won’t even know it’s affordable housing."
Lake Mead West apartments will be a gated community with energy efficient appliances, a dog park, a pool and a barbecue area, developers said.
The apartments are scheduled to be completed in the spring of 2023. You can find more information here.