Housing prices in Reno have increased over the past couple of years. The cost of renting shot up as well. Affordable housing has been a hot button topic in Reno and the surrounding area for a while now. Luckily, new Sparks affordable living housing for senior citizens opens today.
Sparks Affordable Living Housing for Senior Citizens
The Lincoln Way Senior Apartments offers Sparks affordable living for senior citizens ages 55+. These apartments provide housing for anyone aged 55 or older with an income no more than 45% of the Sparks median income (around $21,000 per year). The complex also pledges preference of 30% of its units to veterans that meet their limited income standards.
Located at 618 4th St, Lincoln Way Senior Apartments offer 45 single and two-bedroom apartments in their three-story complex. Energy Star washers and dryers and solar power keep energy expenses low. This Sparks affordable living housing for senior citizens and veterans includes common space with a dining room, library, computer room, lounging area, exercise room and computer lab.
One service provided by Lincoln Way that proves invaluable is the Resident Services Coordinator on-site. This person helps residents with services they may need on a daily basis. This keeps mobile individuals out of assisted living facilities, allowing them to live independently on a budget.
Who Funded the Lincoln Way Senior Apartments?
Non-profit real estate developer Silver Sage Manor has made it their business to provide more than 580 affordable housing units over the last 25 years. They say it takes a village to raise a child. The same is true for affordable housing. Funding for Lincoln Way came from several different sources. The Nevada Housing Division's Housing Tax Credit Program, the Washoe County HOME Consortium as well as area banks Wells Fargo and Federal Home Loan Bank of SF contributed money to the project.
Charlene Hamilton, Your Reno Real Estate Specialist
Originally posted on my Reno Relocation real estate blog here: http://www.relocationtoreno.com/2016/09/11/sparks-affordable-living-housing-for-senior-citizens/.
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