Baltimore Gardens and Cleveland Gardens, Las Vegas, NV
Goal: Breathe new life into an older Section 8 housing complex in the Naked City neighborhood of Las Vegas through a significant renovation and permanently preserve the important asset as affordable housing.
Located at the gateway of Downtown Las Vegas is CDP’s first project in Nevada - the newly renovated Baltimore Gardens and Cleveland Gardens apartments. CDP partnered with BLVD Capital to acquire, preserve, and rehabilitate the two existing HUD-assisted developments fondly referred to as BGCG. The project serves low-income families earning less than 60% of the area’s median income and all 201 units receive project-based rental assistance with Section 8 HAP contracts. The apartment buildings were originally constructed between 1958-1960 in an area of Las Vegas known as The Naked City which has since fallen into decline. With 201 units throughout 21 buildings, the rehabilitation of Baltimore and Cleveland Gardens has done more than improve the individual buildings, it has helped revitalize the entire neighborhood.
The communities have an onsite property management office, laundry rooms, picnic and barbeque areas, and a play area. New drought tolerant, desert landscaping was planted in the courtyards and along the palm tree lined street. Next door to Baltimore Gardens is the Stupak Community Center which offers a wide array of programs and services which are available to all our residents.
Renovating 201 occupied units had its challenges and required intense communication and coordination between the development team and property management to successfully temporarily relocate the tenants during construction. The residents, however, were extremely cooperative, and feedback was overwhelmingly positive. As part of the rehab, CDP upgraded building systems to enhance living conditions and improve energy efficiency and security. Interiors were completely remodeled to bring the units up to modern standards including new cabinets, countertops, lighting, painting, flooring and appliances. Construction concluded, and 100% occupancy was achieved in November 2017.
The $27 million project financing for Baltimore and Cleveland Gardens included tax-exempt bonds issued by the Nevada Housing Division (NHD) and equity from the sale of non-competitive 4% Low Income Housing Tax Credits, as well as HOME funds from the City of Las Vegas.
-Large scale project and lower local labor costs
-Relationship with a California based general contractor who had experience and interest in Nevada work
-New state and City to work within
-First project with new joint venture partners