South Reno senior affordable housing project breaks ground
Vintage Housing and Greenstreet Companies held a ground-breaking ceremony Monday, Oct. 3 for Vintage at The Crossings, a 230-unit affordable senior apartment complex in South Reno. The project marks the first large-scale affordable housing project to break ground in 10 years.
The four-story complex will be comprised of one and two bedroom apartment units that ranage from 580 square feet to 800 square feet with large 3,000 to 4,000 square feet community rooms. The project is designed to house low-income residents who are 55 years and older.
“We are excited to unveil this new project here,” Jim Zaccheo with Greenstreet Companies, a full service multifamily housing development company based in Reno, said at the event.
Construction is now underway on the 5-acre site, located at 11565 Old Virginia Rd. next to the South Towne Crossing shopping center. The location will allow residences easy access to many retail, medical and other commercial services.
The project is funded in part from the State of Nevada Housing Division and from the City of Reno Washoe County HOMEConsortium.
“We are thrilled to have such overwhelming support from the city and state to help us bring badly needed high-quality affordable senior living to Reno again,” Dane Hillyard, principal at Greenstreet Companies, another full service multifamily housing development company based in Reno, said in a recent press release.
Prices for rent at the Vintage at The Crossings will range from $500 to $700 per month. The complex will also be pet-friendly.
“Obviously with so many people moving here, housing is a key element,” Councilmember for Ward 2 Naomi Duerr said at the groundbreaking.
While the new development will help alleviate some of the need for affordable housing, there is still a strong need for additional housing.
“There is a huge housing shortage … this will just make a small dent,” Hillyard said.
Neeser Construction is the contractor on the project. According to the developers, they also plan to use local subcontractors to do the work. They anticipate that the project will take 15 to 16 months to complete and it is expected to open in summer 2017.
“I live in this neighborhood and I can’t wait to welcome these families,” CJ Manthe, administrator for the Nevada Housing Division, said at the ground breaking.
Reno’s median home price jumped to $413,405 in November, a 4 percent increase from the same month a year ago. Meanwhile, across greater Reno-Sparks, November’s median price of $400,000 remained unchanged from October.