Ground is officially broken on North & Valley, a 105-unit affordable apartment complex set to rise just north of the VA Medical Center in North Las Vegas, and this one comes with a price tag of about $42 million and a long waiting game. The project, from Cleveland-based developer The NRP Group, will bring two four-story buildings to roughly four acres along Pecos Road just north of Centennial Parkway. If all goes according to plan, residents could start moving in during the first quarter of 2027, according to the Las Vegas Review-Journal.
The ceremonial groundbreaking on Tuesday drew a crowd of local power players, including Mayor Pamela Goynes‑Brown, Clark County Commissioner Marilyn Kirkpatrick and officials from the Nevada Housing Division. NRP Vice President of Development Mike Moriarty told the Las Vegas Review-Journal that the company “can do as many as possible, as long as we have the funding,” a not-so-subtle nod to how hard it is to make affordable housing math work in Southern Nevada.
Funding and partners
Pulling the project together took a cocktail of public and private money. According to The NRP Group, the financing stack includes tax-credit equity from U.S. Bank and a construction-to-permanent loan from Deutsche Bank, along with Growing Affordable Housing Program funds from the Nevada Housing Division. Clark County and the City of North Las Vegas also kicked in HOME/CHF dollars, helping close on roughly $42 million to get North & Valley off the drawing board and into the dirt.
Why the city needs it
None of this is happening in a vacuum. Nevada’s shortage of deeply affordable homes remains brutal. The National Low Income Housing Coalition’s Gap report shows the state is short about 77,928 affordable and available rental homes for extremely low-income renters, with only 17 affordable homes for every 100 such households. Those numbers help explain why local officials leaned so heavily on tax credits and HOME dollars to make North & Valley financially feasible, as outlined by the National Low Income Housing Coalition.
What residents will get
When the doors finally open, North & Valley will target households earning about 50 to 60 percent of the area median income. The complex is slated to offer a mix of one-, two- and three-bedroom apartments, with on-site perks that skew closer to “market-rate feel” than bare-bones subsidy. Plans call for a resort-style pool, a rooftop terrace and interiors with stainless steel appliances, quartz countertops and in-unit washer/dryer hookups, according to The NRP Group.
The developer is also exploring resident services and a potential partnership with the nearby VA medical center, a logical fit given the project’s location and a detail highlighted by The NRP Group.
Timeline and what's next
Construction is already underway, and officials expect units to be ready for move-ins in early 2027, as reported by the Las Vegas Review-Journal. Moriarty also told the paper that NRP expects to break ground later this year on another affordable development at the southern edge of the valley, signaling a broader push to add subsidized units across the Las Vegas market.
City leaders say North & Valley fills a critical gap near major transit and the VA campus, adding a relatively small but important boost to North Las Vegas’ affordable housing stock. For now, the project will serve as a test of whether these complex public-private funding packages can move fast enough to help ease the valley’s stubborn shortage of deeply affordable homes.
