Developer Nevada HAND’s Decatur Commons, at 450 S. Decatur Blvd. in Las Vegas, opened last year as one of the largest affordable housing complexes in Nevada’s history, with 240 independent senior homes and 240 low-income family homes, as well as retail space.
The total development cost was about $110 million. A broad range of financing sources, including Wells Fargo and Citi Community Capital, showed support for the project.
Viewed as helping to remedy a shortage of Las Vegas affordable housing, Decatur Commons was selected as a winner of a 2023 CoStar Impact Award as judged by real estate professionals in the market.
Nevada HAND was founded in 1993 as a nonprofit dedicated to providing affordable housing solutions for Southern Nevada’s rapidly growing population.
About the project: Nevada HAND’s construction unit delivered the 480 apartments. The complex, situated on 20 acres, provides up to 10,000 square feet of retail space.
What the judges said: “Affordable housing continues to be a major concern in Las Vegas. Among the 50 largest cities in the U.S., Las Vegas ranks first among ‘most severe’ in affordable-housing shortages. This project provides affordable housing to over 800 Las Vegas residents. The focus on sustainability and affordability in an infill location makes this the multifamily development of the year,” said Cameron Glinton, regional manager of Marcus & Millichap.
They made it happen: Ralph Murphy, senior vice president of real estate development for Nevada HAND, led the development effort.
