Tuesday, July 17, 2001 | 8:28 a.m.
East Las Vegas residents Billie and Fern Jones dreamed for 12 years of owning their own home, but limited funds for a down payment discouraged them from trying.
The couple's dream came true Monday when they were handed the key to a new two-story, three-bedroom house during a ribbon-cutting ceremony held by the East Las Vegas Community Development Corp.
The ceremony celebrated the grand opening of 40 duplexes in East Las Vegas near Eastern Avenue between Poplar and Cedar avenues, the first new housing development in the area in more than 30 years.
The Joneses said they were renting a small apartment a few blocks away near 29th Street and Poplar Avenue when they noticed a flier advertising new homes for first-time homebuyers for $500 down.
The couple called the number on the flier. Seven months later they had qualified for their first home.
"This is a dream come true for us," said Billie Jones, a security guard. "We've always wanted to own our own home, but we've never been able to afford it."
The East Las Vegas Community Development Corp., a nonprofit, primarily Hispanic organization created to revitalize the East Las Vegas community, dubbed the $4.7 million affordable housing project Mi Casa en el Sol, which is Spanish for "my house in the sun."
The three- and four-bedroom homes, which range from $112,000 to $119,000, include one-car garages and free appliances and window coverings.
As of Monday all 40 lots at Mi Casa en el Sol had been sold. The first phase, 12 units, were completed in May. Construction on the remaining units is expected to be completed by November.
Representatives of the nonprofit group said the idea for the project came out of a 1995 community meeting in which East Las Vegas residents brainstormed ways to improve the area.
The meeting was attended by Las Vegas Councilman Gary Reese, who represents the area.
"When you start talking about community redevelopment, the first thing you have to do is encourage home ownership," Reese said during Monday's ceremony. "You have to give people something that makes them take pride in the community."
The organization purchased the land from the Las Vegas Housing Authority, Leticia Acevedo, the group's president, said.
Nevada State Bank, Local Initiatives Support Corp. and Citigroup provided more than $2.6 million in construction loan financing. Citigroup is also offering first-time mortgages to homebuyers.
The local HUD office and Fannie Mae provided technical assistance, Acevedo said. Homeowners are eligible to receive a maximum of $2,500 in subsidy funds to offset the price of each home.
The development group also worked with Sharon Segerblom, director of Neighborhood Services, Acevedo said.
Acevedo said the project, which took nearly five years to complete, was initially met with some skepticism.
"We were told that our eyes were too big and that we could never accomplish such a large project," she said. "But we had a passion to make a difference in this community. And this is just a small niche carved in an area that greatly needs help."
The nonprofit corporation, established in 1996, has sponsored several neighborhood cleanups, cultural awareness programs and youth groups in an effort to revitalize East Las Vegas.
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