Ovation Development Corp. joined by Nevada Gov. Joe Lombardo at Grand Opening and “Welcome Home” Ceremony for Residents at Ovation’s Newest Senior Affordable Housing Community, Tempo IV

Las Vegas, NEV (Oct. 21, 2024) --- Today, executives of  Ovation Development Corp. (Ovation), a Las Vegas-based developer of multifamily housing and one of Nevada’s largest private developers of affordable senior housing, were joined by Nevada Gov. Joe Lombardo (R); U.S. Representative Dina Titus (D-NV); Clark County Commissioner Jim Gibson representing District G; Nevada State Senator Roberta Lange (D), District 7; and Nevada State Assemblywoman Venicia Considine (D), District 18; at a grand opening and “Welcome Home” ceremony for residents of Ovation’s newest senior affordable senior housing community, Tempo IV, located in the central valley at 6460 E. Russell Rd. 

According to Alan Molasky, chairman and founder of Ovation, this is the second time in two months the company has brought together top leaders from Nevada in a bipartisan show of support for affordable housing, underscoring the Silver State’s significant housing crisis, particularly for working families and seniors on low- and fixed incomes.

“Governor Lombardo has come through once again to shine a light on the issue of housing affordability, and we are grateful for his support and participation in our efforts to continue developing not just more affordable housing, but high-quality affordable housing that allows residents to live in comfort and dignity,’ said Molasky.

“At Ovation, we believe quality housing strengthens individuals, families and communities, and that’s why we have long devoted a significant portion of our development portfolio to building high quality affordable housing. Residents of our affordable communities enjoy not only well-designed and comfortable homes with access to a number of onsite amenities, they also have access to a variety of wraparound services provided by our nonprofit partner, Coordinated Living of Southern Nevada. Tempo IV is no exception and will include all the same benefits and services as other Ovation-developed affordable communities in Southern Nevada.”

“Generating more affordable and attainable housing options for Nevadans requires local, state, federal government coordination with the private sector,” said Governor Joe Lombardo. “I’m grateful the partnership and leadership of Ovation Development Corporation, and I look forward to our continued work together to bring more affordable and attainable housing units to Nevada.”

The $51 million project, which was funded in part by  Clark County Community Housing Funds (CHF), Clark County's HOME Investment Partnerships Program (HOME), Nevada Housing Division’s Growing Affordable Housing Program (GAHP), tax exempt bonds issued by the Nevada Housing Division, and proceeds from the sale of Federal Low-Income Housing Tax Credits brings 208 new affordable housing units to market. Of those, nine units are available to seniors making less than 50 percent of Area Median Income (AMI), and 199 units are available to seniors making less than 60 percent of AMI.

Tempo IV features high efficiency heating and cooling equipment including EnergyStar appliances, low-E vinyl thermal pane windows for enhanced insulation, and high R-value wall and attic insulation. The project was constructed with sustainable building materials, including low- or no-VOC paints, and adhesives, and formaldehyde-free particleboard. Low-flow water fixtures are installed throughout to promote water conservation, and the property features extensive xeriscape landscaping.

Onsite amenities include a swimming pool and jacuzzi, facilities for meetings and social gatherings, game area, hair salon, wellness center, community kitchen, exercise room, common area laundry facilities, reading/media room, carport parking and outdoor spaces with picnic tables, benches and barbecues.

Units, which include from one to two bedrooms, feature chef-inspired kitchens with ample cabinet space, high ceilings, high quality flooring, and washer/dryer hook-ups.

Tempo IV, which began construction in December 2022, was completed mid-2024. Its first residents arrived in June. Tempo IV is part of the larger Tempo community, which encompasses five buildings and a total of 489 senior affordable housing units.

As one of Nevada’s largest and leading apartment developers of both market-rate and affordable housing for low-income seniors and working families, Ovation Development ensures its affordable housing communities maintain the exceptional quality associated with its market-rate projects.

Through its partnership with Coordinated Living of Southern Nevada, Ovation provides residents of its affordable housing properties with life-enhancing wraparound services and recreational amenities that create a rich social infrastructure and high quality of life. This includes access to transportation assistance to medical appointments and shopping, health and wellness programs, food assistance as well as social outings and events.

To date, Ovation has completed 15 affordable housing communities, bringing to market more than 2,270 affordable apartment units. With six more projects in the planning stages or under construction, by early 2028, Ovation will add nearly an additional 1,300 affordable residences, providing much needed financial relief for low-income residents in Southern Nevada, including families, seniors, and those who are employed but unable to find affordable housing.

About Ovation Development Corporation:

Ovation Development Corporation is a Las Vegas-based development company founded by Alan Molasky, a prolific developer of multifamily, resort-style housing in Southern Nevada for 40-plus years. The largest private multifamily developer in the Las Vegas Valley, Ovation has built more than 10,000 units. In addition to luxury multifamily communities, Ovation is committed to the development of affordable housing for low-income seniors and working families, based on its belief that quality homes are foundational to strengthening individuals, families and community. Ovation and its affiliates employ more than 300 individuals representing all facets of design, construction, and property management. For information, visit ovationco.com.