Congresswoman Lee Helps Deliver Investments for New Laughlin Senior Housing Project

WASHINGTON – Today, Congresswoman Susie Lee (NV-03) announced that the Federal Home Loan Bank (FHLBank) of San Francisco will deliver a targeted investment of $540,000 for a new Laughlin Senior Apartments project in Laughlin, Nevada. Laughlin Senior Apartments will create 36 units for low-income individuals aged 55 and over. Each apartment will have a private entry, dishwasher, in-unit laundry, and outdoor patios. The larger building will have a community room with kitchen, grilling area, business center, fitness center, library, outdoor area, and parking.

The Laughlin Senior Apartments project is part of FHLBank’s larger $9.4 million investment in nine housing projects across the state from the Nevada-specific fund Lee fought for and helped secure. Last year, Lee partnered with the FHLBank San Francisco for a community forum about housing needs and the necessary steps to bring more affordable housing solutions to southern Nevada. 

“I hear from families and seniors across southern Nevada that rents and home costs are too high,” said Congresswoman Lee. “To tackle this crisis, I’ve worked with FHLBank of San Francisco to secure new investments for more affordable housing in Laughlin and across the state. I’m also working with Republicans and Democrats on legislation to cut governmental red tape that drives up housing costs and to crack down on price gouging by corporate investors.”

“The lack of affordable housing supply is one of the most challenging issues our country faces today, and this shortage is particularly acute in Nevada,” said Alanna McCargo, president and CEO FHLBank San Francisco. “Nevada faces a unique set of challenges as one of the least populated states with a diverse array of communities from urban, rural and tribal communities that are all in dire need of affordable housing. We are pleased to be able to nearly double the amount of targeted grant funding this year and deploy resources to nine projects across the state that will have a meaningful impact on mitigating the affordable housing crisis.” 

The $9.4 million investment for Nevada will support:  

• 36 new homes for low-income seniors at Laughlin Senior Apartments in Laughlin 
• 192 new affordable homes for seniors on Yale Street in North Las Vegas   
• 22 new homes and a new community center for working families on Fallon Paiute Shoshone Indian Colony Tribal land in Fallon  
• 85 renovated apartments for Fallon seniors  
• 20 new homes and a park for members of the Pyramid Lake Paiute Tribe Tribal land in Wadsworth  
• 24 affordable homes for families in Pershing County  
• 93 homes for middle-class families renovated by Northern Family Housing in Fallon
• Transitional housing to support women recovering from drug or alcohol addiction at the Empowerment Center II in Reno  
• 50 new apartments at Tropicana Trails to help homeless Las Vegas residents get back on their feet 

Lee is leading the bipartisan Accelerating Appraisals and Conservation Efforts (AACE) Act to speed up appraisals and approvals for Nevada housing projects and cut governmental red tape that drives up housing costs. Lee is also a cosponsor of the Housing Oversight and Mitigating Exploitation (HOME) Act to help lower housing costs for Nevadans by cracking down on price gouging by corporate investors who are buying up housing stock and driving up home prices. 

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