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.

High unemployment and foreclosure rates were the predominant drivers in the recent economic downturn that hit Sparks, Nevada. The area’s housing market was already stressed by a high proportion of renters was thrown into disarray when large numbers of single-family homes then entered the rental market. An area analysis found the housing market was characterized by a large proportion of renters—74 percent. This was especially troublesome for the population of senior citizens in the area living on limited fixed incomes.

NewWest Community Capital, with its strong record of financing affordable housing, brought relief to area seniors by providing funding needed to build River Place Senior Apartments—a 55- unit senior affordable housing complex completed in June 2011. More than 40 percent of the River Place residents earn less than $13,000 annually. The average resident age at River Place is 69, with 21 percent over the age of 80.

Its close proximity to Renown Medical Center makes River Place an ideal location for seniors. Other nearby amenities include a large shopping center and easy access to banking and dining facilities. River Place maintains a computer room with free Internet access, a library, and a community room that boasts a kitchen and fitness equipment. In addition, there is an exam room for on-site medical screenings and office space for case management.

Seniors now have access to apartment living that fulfills many of the things they want and need most: an attractive housing with layouts built specifically for seniors, proximity to care, and most importantly, a community they can call their own.