Monday, Oct. 9, 2006 | 7:29 a.m.
A housing developer hopes to help the Clark County School District lure teachers to the Silver State by offering an investment in a less-precious metal - tin.
Trinity Schlottman of Urban Lofts said the company's townhomes, dubbed "tin homes" because the outer shell is made of corrugated steel, could help solve the problem of affordable housing for local teachers - and for others whose financial means make it difficult to handle the valley's housing costs.
"We'd like to go to schools and see if we can offer information on the homes," Schlottman said. "We've talked to many teachers who say they don't know about the projects."
The loft-style townhomes, priced in the $300,000 range, are located in neighborhoods on the fringes of downtown that developers have shied away from in the past.
Schlottman said the company has had success recognizing untapped neighborhoods in other cities, including Dallas, Houston and Atlanta, that are primed for a renaissance. He believes the areas the company has chosen to build in here are positioned for a similar rebirth.
If early sales are any indication, he is right.
All but two of the homes in a 30-unit development at 11th Street and Carson Avenue, scheduled to be completed by January, have been sold.
Schlottman hopes a 70-unit development on Fremont Street will be completed in May, and the company recently got council approval to purchase land on Stewart Street at Mojave for 54 additional units.
Council members have encouraged the developers to talk with School District officials, though some are more optimistic than others.
"We are in a dire situation with housing for our teachers," said Councilwoman Lois Tarkanian. "We don't have solutions and we need discourse. This might turn out to be a good way to go."
Mayor Pro-Tem Gary Reese has been a supporter of the Urban Lofts projects, but said it "might be a little tough" for teachers to afford the units.
Currently, teachers who qualify can receive up to $30,000 down payment assistance from the city. Eligibility standards - to be revised soon to make them available to more people - include an annual income cap of about $35,000 (for a single teacher) and a five-year commitment to teach in Clark County schools.
With a down payment of that size, Schlottman said, the monthly mortgage payment would be about $1,750, which he admits would be a struggle on a teacher's salary. The starting pay for teachers in the Clark County School District is about $33,000 per year.
Schlottman said the company is working with the city on possible additional incentive programs that could make the units more affordable for teachers.
George Anne Rice of the School Board said she is eager to hear from anyone who can help with the challenge of finding affordable homes for teachers.
"If I had to identify one problem with retention and recruitment of teachers, it would be housing," she said.
She said, however, that the price "sounded a little high" for the neighborhood and admitted that the words "tin homes" did not conjure up the best image.
While there are different models with varying layouts ranging from about 1,800 to more than 2,000 square feet, all are three-story units with a garage, two bedrooms, two baths and a small back yard. The homes also have skylights and vaulted ceilings.
Townhomes differ from condominiums in that residents own not only their individual units but also the land on which the home is built and the yard.
"I love the whole loft lifestyle, the high ceilings, everything," said Michael Cornthwaite, who bought one of the 11th Street units. "It is a great location and an opportunity to make a nice investment."
Cornthwaite, 31, who is opening a business, The Downtown Cocktail Room, just a few blocks from his new home, also is upbeat about the potential of the areas around downtown.
"In every major metro area the same thing happens," he said. "The core (of the city) gets a little rotten, but then people move back in, rebuild and refurbish."
Schlottman said the city has positioned the area for success by insisting on ground-floor retail in its developments, which will help create the infrastructure necessary for city living.
If the city's vision for the neighborhoods comes to fruition, he said, the proximity to retail and nightlife would be ideal for young professionals.
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