A development company will break ground on a 42-unit apartment complex next week, the Carson City Chamber of Commerce announced on Thursday.
Community Development Inc., based in Caldwell, Idaho, is developing the complex, its third in Carson City. Their newest project, the Sierra Ridge Apartment Community, will be located at 1870 Russell Way on a 3.42 acre vacant lot behind the Boys & Girls Club. It will offer low-cost rentals for seniors.
The company estimates the project will generate about $3.6 million in construction activity and $33,000 in annual property taxes.
The complex will feature 23 one-bedroom units and 19 two-bedroom units from $348 to $709 per month.
Washington-based Ebenal General, Inc., will construct the apartment complex. Local subcontractors are expected to assist.
Lenders include the Nevada Housing Division, First Independent Bank of Nevada, Western Nevada Home Consortium and the National Equity Fund, Inc.
The ground breaking happens at
10 a.m. on June 2.