Lincoln Avenue Communities Breaks Ground on Affordable Housing Development in Reno, Nevada
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Friday, November 3, 2023
RENO, Nev., Nov. 3, 2023 /PRNewswire/ -- Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground this week on the future site of Pinyon Apartments, a development that will provide 252 units of affordable housing for lower-income families in Reno.
Key Points:
- RENO, Nev., Nov. 3, 2023 /PRNewswire/ -- Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground this week on the future site of Pinyon Apartments, a development that will provide 252 units of affordable housing for lower-income families in Reno.
- "Lincoln Avenue Communities is committed to building high-quality, affordable homes in cities like Reno that are experiencing an acute housing crisis," said LAC CEO Jeremy Bronfman.
- "We're proud to begin construction of our first ground-up development in Nevada and to help bolster the state's affordable housing supply."
- Pinyon Apartments was financed through a combination of Tax Exempt Bonds, 4 percent Low Income Housing Tax Credits ("LIHTC") and State Tax Credits from the Nevada Housing Division.