Strong communities start with affordable housing. And NewWest Community Capital is committed to creating affordable housing options for families in need.

To that end, NewWest recently helped NeighborWorks Boise (NWB) receive approval for a line of credit that will be used for land acquisition, development and new construction. For new construction, the money will help build more “pocket neighborhoods” which successfully integrate families into existing communities.

What is a pocket neighborhood? It’s a small cluster of homes centered around an open space. The houses form a pocket, creating a real sense of community for its residents. Utilizing smaller parcels and incorporating green spaces, pocket neighborhoods encourage walking, biking and increased socialization.

NeighborWorks targets homebuyers who earn between 65%-125% of the area median income (AMI). By targeting families ranging from low to moderate incomes to higher earners, NeighborWorks can offset the cost of smaller homes with the value created by larger ones. In addition to being a nice place to live, pocket neighborhoods provide upward mobility for low to moderate income families.

Turning dreams into reality. That’s part of our mission. And we’re proud to partner with agencies like NeighborWorks Boise working to make housing more affordable for everyone.

NewWest Community Capital provided a permanent loan for the development of Juniper Village Apartments in Reno, NV.  This 42-unit affordable project serves low-income individuals and families with incomes targeted at 40% of area median income and below.

This brand new complex features 20 one-bedroom apartments and 21 two-bedroom apartments and is located close to local businesses and conveniently located near freeway access and bus routes. Amenities include; free Wi-Fi internet, brand new Energy Star rated appliances, elevator access to all three floors, community room with access to a library, a computer station, gym, TV, and gaming system, Tot-lot playground, BBQ and horseshoe pits, gated access, 24-hour security video surveillance and onsite laundry facility.  Also included is a leasing agent, supportive housing staff, and a maintenance person working on-site with offices.

The project is designed in a contemporary style of architecture with specific consideration given to seniors in the design features. The property consists of 39 units in a three-story building with one elevator. The project location is within walking distance to the main library, many medical services, a beauty parlor, two mini-marts and a florist. Downtown Reno with many cultural and recreational opportunities is located within one-half mile of the site.

Our team at NewWest handled the request and application for the financing of Willows at Wells Avenue apartments, a 39-unit senior affordable housing development, located in Reno, Nevada.

The Reno-Sparks area has recovered from the economic downturn of 2008. The area has experienced rapid population growth over the past several decades due to the excellent quality of life. Historically, the gaming industry has been the principal economic base for the area. Legalization of gaming across the United States is expected to have an impact on the Washoe county area. The unemployment rate for the State of Nevada is approximately 5.0%, which is slightly higher than the national average, but it is still improving with more diverse jobs and industries coming to market.