Pacific Pines II
Pacific Pines II Limited Partnership is a 51 unit senior affordable housing Low Income Tax Credit project in a Treasury designated Housing Hot Zone area of Henderson, NV. The CDFI is providing the $1,000,000 permanent loan for the project. Construction financing for this project was provided through a $3.5 million loan from Bank of Nevada. This project opened in April 2007 and is now completely occupied.
Additional project financing comes from: over $6,000,000 in federal low-income housing tax credits, $500,000 in federal HOME funds, $1,000,000 in Clark County housing trust support, $200,000 through the Federal Home Loan Bank San Francisco AHP program.
The project was developed by Nevada HAND, Inc., a 501 (c) (3) nonprofit Community Housing Development Organization. Since 1995, Nevada H.A.N.D. has developed well over 2000 units of affordable family and senior rental housing in 20 different projects.
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