The three connecting parcels, 1505, 1555 and 1585 Marvel Way in Reno, Nevada have been purchased by The Empowerment Center, Solutions for Recovery.
The Empowerment Center purchased the 2.97 acres of land to build a low-income multi-family complex. The units will be 1 and 2 beds, with construction scheduled to begin in the first quarter of 2020.
Heidi Chisholm and Dennis Bradley of DCG represented the Buyer in this transaction. The seller was One Love LLC.
The Reno Recovery Project involves the construction of a 45- unit affordable housing development for low-income individuals. Ten units will receive project-based rental assistance for people with extremely low incomes. The remaining 31 units will also be affordable and may be eligible for Section 8 Housing Choice Vouchers, and other types of rental support. In addition to providing shelter, the facility will provide on-site services, including 12-Step meetings, job training, life skills coaching and related supportive services, as well as referrals to local service organizations to help tenants maintain housing and focus on self-sufficiency.