Nevada Invests $38 Million to Expand Attainable Housing, Support 891 Homes Statewide

NEVADA, October 12 - CARSON CITY, Nev. — The Nevada Attainable Housing Council has approved approximately $38 million in additional funding through the Nevada Attainable Housing Account to support 10 housing development projects across Nevada. The funding is expected to support 891 attainable homes and rental units, expanding housing opportunities for Nevadans across a range of income levels.

The funding builds on a major housing investment secured during the 2025 Nevada Legislative Session. Established by the Governor’s Nevada Housing Access and Attainability Act (AB 540), the Nevada Attainable Housing Account is backed by a $133 million General Fund appropriation to expand attainable housing opportunities. The account supports housing development, homeownership assistance and partnerships with local governments to help address Nevada’s housing needs.

“Nevada families need more opportunities to find a home they can afford, and we’re taking action to make that happen,” said Governor Lombardo. “By establishing the Nevada Attainable Housing Account, we put significant state resources behind solutions that help move housing projects forward and expand opportunities for homeownership and rental housing. This $38 million investment builds on that work, supporting 891 homes and units while leveraging additional public and private investment to stretch taxpayer dollars further.”

Supporting Housing Development Across Nevada

The 2026 development funding round received 23 complete applications requesting a combined $119.79 million, approximately 3.1 times the funding initially available for the category. Following application reviews, scoring and consideration of project readiness, geographic distribution and the ability to leverage additional funding, the Council approved funding for 10 projects.

The approved funding totals $38.16 million across three development categories:

• Land Acquisition: $12.29 million for two projects, supporting 285 homes or units.

• Multifamily Rental Development: $8.325 million for two projects, supporting 174 rental units.

• Single-Family and Small-Scale Residential Development: $17.545 million for six projects, supporting 432 homes or units for ownership or rental.

Together, the approved projects include 454 homes for sale and 437 multifamily rental apartments. The projects span Southern Nevada, Northern Nevada, rural communities and Carson City, supporting a range of housing needs and development approaches.

“These 10 projects demonstrate how targeted state funding can help move housing developments forward and deliver results in communities across Nevada,” said Steve Aichroth, Administrator of the Nevada Housing Division. “By leveraging additional public and private investment, NAHA funding is helping support nearly 900 attainable homes and rental units, with projects designed to meet a range of housing needs. We’re focused on putting these resources to work where they can make a meaningful difference for Nevada families.”

Leveraging Funding to Expand Housing Opportunities

The approved projects are expected to leverage additional public and private investment to increase the impact of state funding. Across the project portfolio, the average leverage ratio of NAHA funding to other funding sources is 6.36, meaning approximately $6 in additional funding is associated with every $1 in NAHA funding deployed.

Projects approved for funding include Volunteer Apartments in Henderson, The Reserve at Sparks in Sparks, Golden Valley Homeownership in Reno, Kyle Canyon Townhomes in Las Vegas, Pueblo Phase I in West Wendover, and E William Street Multifamily Adaptive Reuse in Carson City. Other approved projects include the Welcome Home Community Land Trust, Rome Commons, Linda Topaz and the Silver Springs Manufactured Homes Project.

The projects use a combination of subordinate loans, grants and rebates to support housing development, including attainable homeownership opportunities, multifamily rental housing and land acquisition. The projects are intended to serve households across a range of income levels.

Additional information about the Nevada Housing Division and its housing programs is available at www.housing.nv.gov.

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