Southern Pines Family Apartments, a 240-unit affordable housing complex built by Nevada HAND, is now open in the southern Las Vegas Valley and already houses hundreds of families. The two-phase development offers one-, two- and three-bedroom apartments and a slate of on-site amenities, including a pool, fitness center, community rooms and a computer lab aimed at supporting working households.
According to a Nevada HAND press release, the complex is designed for households earning between 30 percent and 60 percent of the area median income and was financed with a stack of public and private funding. The release details roughly $41 million in low-income housing tax credit equity from Wells Fargo, along with Clark County support and state contributions from the Nevada Housing Division. “The progress on Southern Pines marks a significant milestone in our ongoing mission to deliver high-quality, affordable housing,” Nevada HAND’s Waldon Swenson said in the statement.
Price tag and who moved in
The Las Vegas Review-Journal reported that the development carried a roughly $87.1 million price tag and has been opening in phases since this past fall. The Review-Journal also notes that about 550 residents now live at Southern Pines, with only a handful of units still left to lease.
Who qualifies and what it costs
Per Nevada HAND, Southern Pines offers income-restricted one-, two- and three-bedroom apartments. Phase 2 rents listed on the site show one-bedrooms at $1,147, two-bedrooms at $1,377 and special offers on select three-bedrooms at $2,018. The leasing information also highlights in-unit washers and dryers, covered parking and on-site resident services that are intended to help families stabilize.
Why it matters
The opening comes amid a deep statewide shortage of affordable rentals. The National Low Income Housing Coalition estimates Nevada needs nearly 78,000 more affordable and available rental homes for extremely low-income renters. NLIHC's Nevada housing profile lays out just how far the Las Vegas Valley still has to go to meet demand.
Leasing and next steps
Developers and county officials say projects like Southern Pines only happen when tax-credit equity, county HOME funds and state housing dollars are pieced together carefully. Nevada HAND’s release details the financing mix that brought this one across the finish line. For leasing information, the community office can be reached at 702-329-3224, and Nevada HAND maintains an online application for Southern Pines.
Housing advocates are quick to point out that a single 240-unit complex will not solve the valley’s affordability crisis, but county leaders say Southern Pines shows a workable template for pairing private bank capital with public subsidies. Nevada HAND and local officials say they plan to keep chasing similar deals that combine tax-credit equity and public funding in an effort to chip away at the region’s mounting shortage.
