Tax Credit Reservation Received!!!
GGI is proud to announce that our Madison Palms development received a reservation of tax credits for the Nevada Housing Division’s 2016 round. The project also has an allocation of tax exempt bonds. This deal is structured using 9% and 4% tax credits, the first of its kind for Nevada!
Madison Palms site is located in North Las Vegas, and will consist of 126 units of affordability for seniors 55+ on a 5-acre infill site, set within a commercial shopping center. It represents an ideal location for senior housing, near medical and dental, retail, grocery shopping, veterinary hospital, post office, banking, restaurants, and public transportation, all immediately at hand. Within a quarter mile from the site is a public walking path that residents can enjoy for fitness and leisure. The public library is within 2 miles. Movie theatres and entertainment is within 3 miles.
Local merchants favored the project, as they will also benefit by these resident’s support of their stores and offices.
This will be an innovative project, and the City of North Las Vegas looks forward to having it in their area.