Development for Seniors Wins Excellence Award
We’re excited to share that Rose Gardens Senior Apartments in North Las Vegas, Nevada, was named the winner of the Charles L. Edson Tax Credit Excellence Awards for public housing.
Enterprise helped finance the development with $10.2 million in Low-income Housing Tax Credit Income (Housing Credit, or LIHTC).
Rose Garden Senior Apartments was created specifically for seniors and replaces a nearby former public housing development. The new 120-home building features a multi-purpose kitchen, wellness space, computer lab, and training, exercise and music rooms.
Rose Gardens was also made possible after it was converted to a 20-year rental assistance contract under HUD’s Rental Assistance Demonstration (RAD) program. RAD enables public housing agencies to leverage public and private capital to reinvest in public housing.
The Charles L. Edson Tax Credit Excellence Awards recognizes “excellence in the affordable housing industry and organizations that have demonstrated especially impactful use of the Low-Income Housing Tax Credit.”
Enterprise is honored to have helped support such a high-impact development that offers well-designed affordable homes to seniors.