The City of Las Vegas is seeking developers to create affordable live-work spaces for artists in the 18B Las Vegas Arts District, with a 1.23-acre mixed-use project planned along Las Vegas Boulevard. The goal is to support the district’s cultural economy while providing spaces where artists can live and work affordably, according to the City of Las Vegas.
A new $40 million in federal New Markets Tax Credits will help fund the development, targeting low-income and underserved areas in Southern Nevada. The Las Vegas Community Investment Corporation, which manages these credits, focuses on projects that combine economic growth with community benefits in commercial, manufacturing, educational, and healthcare spaces, as reported by the City of Las Vegas.
Mayor Shelley Berkley will hold a news conference at 10 a.m. on Thursday at Las Vegas City Hall to discuss new development projects in the Arts District. The Las Vegas Community Investment Corporation, the only Nevada-based recipient of the latest New Markets Tax Credit, has used federal funds for local projects like last year’s $60 million West Las Vegas Library. The new funding will support affordable artist housing, workspaces, and other developments that create jobs and investment in the city, as stated by the City of Las Vegas.
