Giraffe Laugh

Boise, ID

Community Facility Financing Supports Services that Strengthen Communities 

As part of its commitment to strengthen communities by addressing essential needs, NewWest Community Capital provides flexible financing for community facility development. Community facilities include a wide variety of projects, such as public safety services, treatment and health centers, human service providers and assisted living. One such investment is Giraffe Laugh’s newest early learning center on Orchard Road in Boise, Idaho.

Giraffe Laugh – Boise, ID

Giraffe Laugh is dedicated to early childhood education, school readiness and family empowerment, serving approximately 170 children across four facilities throughout Southwest Idaho. Currently, 53% of children served by Giraffe Laugh come from ALICE (Asset Limited, Income Constrained, Employed) households. And with a waiting list of nearly 500 children, demand for affordable childcare in Boise remains extremely high.

The center is located next to a new 210-unit apartment development affordable to families earning approximately $64,000 and below. The center includes classrooms, administrative offices, a kitchen and an outdoor playground. Families living in the neighboring development will be eligible for Giraffe Laugh’s free or reduced-cost scholarship program, extending access to households most in need.

NewWest provided both construction and permanent financing for the project, bridging an ongoing capital campaign. Additional funding includes a Workforce Development Grant from the City of Boise. The project reflects a shared commitment of NewWest, Giraffe Laugh and the City of Boise to building strong families, a stable workforce and lasting community impact.

Cove Junction Apartments

Richfield, UT

Financing the Future of Rural Communities with NewWest Community Capital

NewWest Community Capital’s foundation is closely tied to rural communities. Characterized by strong connections to land and natural resources, NewWest supports projects in diversified economies that span agriculture, manufacturing and small businesses. The values of hard work, resilience and care for the community are deeply embedded in everyday life.

NewWest Community Capital taps into this ethos, fostering economic development by empowering rural areas to build on existing strengths and create sustainable futures for generations to come. Five of our first 10 loans were made in towns with populations ranging from 828 to 6,000, providing financing for a grocery store, furniture manufacturer, service station and assisted living center.

Cove Junction Apartments – Richfield, UT

Richfield is a town 160 miles south of Salt Lake City, with 8,000 residents—it’s the largest city and county seat of Sevier County. Due to the convergence of agricultural, retail and industrial activities, the county is described as “rural diversified.” Richfield’s remoteness, plus its location on major transportation corridors, makes it Central Utah’s de facto regional capital. People from dozens of smaller communities drive to Richfield for government services, shopping and health care.

In 2024, Richfield had its first new multifamily housing built since 2008. Western Region Nonprofit Housing Corporation developed Cove Junction Apartments with financing provided by NewWest. The development offers 36 affordable apartments for families earning approximately $50,000 or less. Cove Junction is in a newly developed area of Richfield close to schools, retail stores and restaurants.

Tropicana Trails

Las Vegas, NV

Early-stage financing yields long-term community growth 

Before a single foundation is poured or a permit filed, affordable housing begins with one crucial step: securing the land. However, for many developers, acquiring land early enough to prepare for financing and meet program requirements remains a significant challenge.

At NewWest Community Capital, we designed our land acquisition loans to help developers overcome this barrier by providing flexible, early-stage capital. Early access to land doesn’t just level the playing field against market-rate developers—it’s essential for them to qualify for competitive funding programs like Low-Income Housing Tax Credits (LIHTCs).

Across the Intermountain region, NewWest’s land acquisition loans are turning vacant lots into future homes for families, seniors and individuals by helping mission-driven developers gain that critical foothold of land access early on. One recent venture that shows how early-stage financing translates into long-term community health is the Tropicana Trails project.

Tropicana Trails – Las Vegas, NV

HELP of Southern Nevada and George Gekakis, Inc. recently broke ground on Tropicana Trails, a 50-unit multifamily supportive housing community in North Las Vegas. Made possible by a $1.8 million land acquisition loan from NewWest, this development marks HELP’s first purpose-built supportive housing project after decades of operating scattered units throughout the valley.

The project secured funding through a collaboration of multiple public and private partners, including FHLB Affordable Housing Program, State HOME and ARP funds, and Clark County and North Las Vegas housing trust funds. Once completed, Tropicana Trails will offer on-site case management and wraparound services for residents. Community amenities such as a clubhouse, on-site case management offices and a welcoming central courtyard will create a physical environment that encourages genuine connection and lasting stability among residents.

“Land acquisition loans deliver critical upfront capital for acquiring raw or undeveloped land. By securing site control and enabling preparation ahead of construction financing, they allow us to compete in markets where sellers rarely grant sufficient time to assemble full development funding.”
– David Paull, Sr. Vice President, Development, George Gekakis, Inc.

NeighborWorks

Boise, ID

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.

Juniper Village

Reno, NV

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.

River Place Senior Apartments

Sparks, NV

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.