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Ovation Development Corporation Awarded $21.9 Million from Clark County Community Housing Funds to Develop Two Affordable Housing Communities for Low-Income Seniors, Working Families

Ovation Development Corporation Awarded $21.9 Million from Clark County Community Housing Funds to Develop Two Affordable Housing Communities for Low-Income Seniors, Working Families
 

LAS VEGAS, NEV (May 7, 2024) - Alan Molasky, Chairman and founder of Ovation Development Corporation (Ovation), announces that Ovation and its nonprofit partner, Coordinated Living of Southern Nevada (CLSN), were awarded two grants totaling $21.9 million from Clark County Community Housing Funds (CHF) for the development of two affordable housing projects. Part of the County’s Welcome Home program, the grants were approved today by the Clark County Board of County Commissioners. Combined, the two projects will bring nearly 600 affordable apartments to Southern Nevada.

 

According to Molasky, the two developments, which are anticipated to begin construction at the end of 2025 and the first half of 2026, will include a 194-unit affordable senior community located near Bruner Ave. and S. Las Vegas Blvd. in Las Vegas. The second development, located in West Henderson on BLM land near S. Las Vegas Blvd and E. Larson Lane, will feature 390 units for low-income working families.

 

Ovation is one of nine applicants awarded affordable housing funds today to develop a total of 1,273 units throughout Clark County. Of the projects being developed through the $66 million grant disbursement, Ovation will bring to market more than 45 percent of the new units announced today.

 

“Every Ovation project begins with our commitment to the steadfast belief that everyone, regardless of income, deserves a quality home that helps to strengthen individuals, families and community,” said Molasky. “We are grateful for the trust put in us by Clark County, and we do not take this responsibility lightly. This trust is a testament to the incredible work of the entire Ovation/CLSN team and the positive impact we continue to make in our community in our mission to help address Southern Nevada’s critical shortage of affordable housing.”

 

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 14 affordable housing communities, bringing to market more than 2,000 affordable apartment units. With seven more projects in the planning stages or under construction, by early 2028, Ovation will add an additional 1,500 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.

 

According to the National Low Income Housing Coalition, Nevada has one of the most severe affordable-housing shortages in the nation. In response to this crisis, Clark County created the Community Housing Fund in 2022 to support affordable housing development, citing an estimated shortage of nearly 85,000 affordable homes for extremely low-income renters in Southern Nevada.

 

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.

MEDIA CONTACT:

Melissa Warren, The Warren Group

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