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New affordable housing community opens in Sun Valley

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New affordable housing community opens in Sun Valley


SUN VALLEY, Nev. (KOLO) – Ulysses Development Group and state and local leaders celebrated the grand opening Tuesday of The Ridge at Sun Valley, a 195-unit affordable housing community and the first project in Nevada to close financing using funds from the Home Means Nevada Initiative.

The community serves individuals and families earning 50-60% of area median income. Nevada State Treasurer Zach Conine said rent for the units stays below 30 percent of a renter’s income.

“These are apartments that people can pay for and they can still have money left over for groceries and medicine and all the other things they need in their life,” Conine said.

Historic funding milestone

The project marks a milestone as Nevada’s first to use Home Means Nevada Initiative funding. During the pandemic, Nevada allocated $500 million from COVID funds to create the initiative, the most allocated by any state in the union for affordable housing, Conine said.

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“That initiative put $500,000,000 into affordable housing,” Conine said.

Washoe County Board of County Commissioners District 3 member Mariluz Garcia said 49 percent of people in Reno are cost burdened by housing costs.

Community amenities and design

The units include washers and dryers, according to apartment manager Hailee Penberthy. Community amenities include a toddler playground, gazebo and grill, picnic tables, pet stations, a heated pool and a 24/7 gym, Penberthy said.

The development was designed with green elements including a solar energy system and Energy Star building standards.

Penberthy said the units are over 50 percent occupied.

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Nevada Infrastructure Coordinator Chris Reilly, Nevada Housing Division Administrator Steve Aichroth and Ridge at Sun Valley resident Jaidyn Avalos also spoke at the event.

She says she enjoys the mountain views and the people she now calls her neighbors.

The Ridge at Sun Valley is located at 5100 W 1st Ave in Sun Valley.



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