Virginia Lake Apartments is a new 66-unit senior affordable housing development in southwest Reno, Nevada. Located on three acres just east of Virginia Lake, a pubic manmade lake with a walking path and playground, the building was designed to blend with the adjacent Victorian-style townhomes.
The 56 one- and 10 two-bedroom apartments serve independent seniors age 55 plus with incomes at or below 50 percent of Area Median Income. Each residence features central air/heat, two ceiling fans, washer/dryer, energy-efficient hot water/heater system, patio/balcony and individual locked exterior storage.
The 65,000 square-foot complex offers a community room, library, fitness room, computer room and free access to the internet, outdoor picnic tables, BBQ grills and a wellness room for basic exams.
Its sponsor, the Community Services Agency Development Corporation (CSADC) is a non-profit development corporation that has developed 16 LIHTC projects. On each of those projects CSADC has been the primary sponsor but has worked in conjunction with consultants Ann Harrington and Robert Nielson, both industry experts.
National Equity Fund® invested $7.9 million of LIHTC equity in Virginia Lake.