Las Vegas Sun

November 9, 2009

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Affordable housing site opens

Wednesday, June 26, 2002 | 10:51 a.m.

Las Vegas officials today were scheduled to celebrate the grand opening of the Country Ridge Villas, a community of affordable homes.

Funding from the city of Las Vegas, Fannie Mae, the Department of Housing and Urban Development and Nevada Housing and Neighborhood Development helped finance the 85 affordable homes at 735 N. Tonopah Drive.

The townhouse complex has one-, two-, and four-bedroom units available for purchase by residents who meet the income and rent guidelines established by HUD. The sale price ranges from $64,990 for a one-bedroom, one-bath unit that measures 650 square feet to $89,900 for a four-bedroom, two-bath unit measuring 1,306 square feet.

The city contributed $566,271, Clark County gave $455,000 from the Nevada Low Income Housing Trust Funds, Fannie Mae provided $125,000 in loans, while pre-development grants were provided by Citibank, Household Bank, U.S. Bank and Bank of America.

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