REAL ESTATE BRIEFS: DEC. 24
Nevada HAND provides senior housing
Nevada HAND hosted a lease-up event at its new community, Decatur Commons Senior, at 450 S. Decatur Blvd. in November.
Only 10 of the 480 new apartment units were available as of press deadline. Decatur Commons Senior is for income-qualified senior residents. Applicants must be over the age of 55 with an annual income between $26,865 to $34,380 for singles or between $26,865 to $39,300 for couples. The final group of apartments still available will rent for $995 per month for the first year, all utilities included. Each of the remaining units include two bedroom and one bath.
Please visit decaturcommonssenior.nevadahand.org to apply online or call 702-410-2766.
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Housing nonprofit names Terry Shirey as chairman
Nevada HAND Inc. announced that effective Jan. 1 Terry Shirey will take the reins as Nevada HAND’s chairman of the board of directors.
Nevada HAND’s outgoing chairman of the board, Ken Ladd, will remain a director on Nevada HAND’s board.
Shirey will work closely with the board of directors and the executive leadership team to oversee Nevada HAND’s operations. Nevada HAND (Housing and Neighborhood Development) is the state’s largest 501(c)(3) nonprofit organization dedicated to the development, construction, management and preservation of high-quality, affordable homes for low-income working families and seniors. Nevada HAND’s housing portfolio consists of 35 affordable apartment communities of over 5,000 units that serve more than 7,900 Southern Nevada residents.
“Serving as chairman of the board has been an honor,” Ladd said. “Terry Shirey is a strong community leader who is committed to amplifying the vision of Nevada HAND while propelling the organization’s future growth. I look forward to what the future holds for this great organization.”
Shirey brings a wealth of knowledge to his new position. He serves as the president and CEO for Nevada State Bank, a division of Zions Bancorporation, and executive vice president of Zions Bancorporation. Shirey holds a CPA certificate and has been in the financial industry since 1995, with the majority of his career spent managing finance and operations for major banks and bank holding companies. He holds a bachelor’s degree in accounting from the University of Wyoming. He serves as the past chairman of the Las Vegas Metro Chamber of Commerce and as a trustee of the College of Southern Nevada and is a past chairman of the Nevada Bankers Association.
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PENTA announces promotions
The PENTA Building Group, a nationally recognized commercial contractor, announced the promotion of Mike McLean, Tony Cornell and Trevor Dishon to vice president positions at the company.
Mike McLean, an owner at PENTA with more than 30 years of experience, has been promoted to vice president of construction. He supervises key personnel in developing strategic start-up procedures, as well as the planning and execution of field work. In this new role, he will continue to work both in Phoenix and Las Vegas regions to oversee construction activities as he brings decades of experience with large, complex and logistically challenging projects to PENTA’s ongoing construction operations.
Cornell, a PENTA owner and employee for more than two decades, has been promoted to vice president of construction. In this role, he will monitor construction operations and provide high-level field oversight to ensure projects are operating safely and delivering quality products to PENTA clients. Cornell’s extensive construction experience is accompanied by an innovative and flexible approach to his work.
Dishon, an owner at PENTA and one of the company’s first employees, has been promoted to vice president of construction. With strong relationships with repeat, loyal clients, he will continue to foster ties with key decision makers in the construction industry in Las Vegas. In addition to having years of experience tackling challenging projects, Dashon is known for mentoring younger staff at PENTA and imparting that knowledge to carry on to the next generation of construction talent.
The PENTA Building Group is a nationally recognized commercial contractor with offices in Nevada, Southern California and Arizona. As a general contractor, construction manager and Design-Build partner, the company partners with every member of the development, design and construction team to build a variety of projects ranging in size and scope.
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Instructor inducted into Indiana Golf Hall of Fame
Reflection Bay Golf Club instructor and veteran PGA Pro Jeff Gallagher was recently inducted into the Indiana Golf Hall of Fame.
Gallagher, a native of Marion, Indiana, was inducted with his sister, Jackie Gallagher-Smith, who also played on professional tours.
Gallagher was the 1982 Indiana State Junior Champion and a four-year letterman at Ball State University. He was inducted to the Ball State University Athletic Hall of Fame.
Since becoming a PGA Pro in 1987, Gallagher earned 34 top 10 finishes in Web.com tournaments and six top 10 finishes in the PGA Tour. He still competes on the PGA Champions Tour.
Gallagher has several tournament trophies under his belt, winning the Ben Hogan Tour twice, as well as the Cleveland Open in 1990 and the Web.com Tour’s South Carolina Classic in 2000.
In 1998, he played the PGA Tour with a sixth-place finish at the Nissan and eighth-place finish at the Buick.
Overall, Gallagher has played in over 400 tournaments between all three tours.
In August 2018, Gallagher joined Reflection Bay Golf Club as the club’s instructor and PGA Pro. Today, Gallagher uses his decades of experience to give veteran golfers knowledge of how to improve their golf game. He also teaches junior golfers interested in playing college golf how to shoot lower scores.
Reflection Bay Golf Club is located in Henderson’s Lake Las Vegas resort community. Built in 1998, Reflection Bay was designed by 18-time Major winner Jack Nicklaus and is designated as a prestigious Jack Nicklaus Signature Design. It is one of only three Nicklaus-designed courses in Southern Nevada.
Reflection Bay Golf Club also operates the High Performance Golf Institute (HPGI), a premier indoor and outdoor training facility.
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Nevada Builders Alliance hires director
Nevada Builders Alliance, the state’s largest professional organization representing the construction industry and affiliated sectors, has announced Jaron Hildebrand as its new executive director, heading into the new year. With more than a decade of experience representing, leading and advocating for a variety of Nevada professional organizations, Hildebrand will lead Nevada Builders Alliance as it continues to build a better Nevada.
“For many years, Jaron has proven that he’s a talented leader with the utmost respect of our colleagues and community,” said Jim Feser, board president of the Nevada Builders Alliance. “Under his leadership, we look forward to further supporting our thousand-plus members throughout the state, as well as further fostering the next generation of Nevada’s builders. We’re lucky to have him as our executive director as we begin a new year and new chapter at Nevada Builders Alliance.”
Hildebrand’s experience includes many of Nevada’s vital businesses and professions, including his leadership and guidance at the Nevada Trucking Association and the Nevada State Medical Association.
Hildebrand has advocated for the Retail Energy Supply Association, Nevada Craft Brewers Association, the Nevada Petroleum and Geothermal Society and other organizations at the state Legislature. Hildebrand graduated from the University of Nevada, Reno with a Bachelor of Arts in political science. He’s also a member of several Nevada professional groups and has served on the board of the Nevada Cancer Coalition and Your Nevada Doctor.
Hildebrand joins the Nevada Builders Alliance as the state and construction industry continue to grapple with supply chain and affordable housing issues. As an advocate for its member businesses, Hildebrand will serve a vital role in ensuring the industry has a voice in matters related to workforce development, permitting, land use and health and safety.
Housing Division to help first-time homebuyers
Nevada’s local housing leaders are bringing affordable homeownership solutions to all corners of the state through the Home Means Nevada Initiative. The initiative has allocated $10 million to Nevada Housing Division and Nevada Rural Housing. These agencies are launching down payment assistance programs that will provide $15,000 to eligible first-time homebuyers. The assistance will be in the form of a second mortgage with no payments or interest and completely forgiven after three years of residence in the home.
“Our estimates indicate the Home Means Nevada Initiative dollars for down payment assistance will allow the two agencies to help over 650 Nevada families purchase homes in a difficult buyers’ market,” said Steve Aichroth, administrator of the Nevada Housing Division. “These organizations have worked for years to help Nevadans get into more tenable, long-term housing circumstances, and we firmly believe this new option will apply to residents at a time when owning a home continues to elude hard-working citizens.”
Eligibility requirements for the programs include that participants must be first-time homebuyers (meaning they cannot have owned a home within the last three years), have a minimum of six months of Nevada residency and completion of a homebuyer education course. To get started, visit each local housing agency website for details on programs and for a list of preferred lenders to contact.
“The investment in homeownership programs through the Home Means Nevada Initiative is inspiring to see,” said Bill Brewer, executive director of Nevada Rural Housing. “We are excited to continue to offer the opportunity of homeownership to more rural Nevadans.”
Nevada Housing Division launched the Home First Program DPA program on Nov. 21, and it is available throughout the state.
Nevada Rural Housing serves Nevada’s 15 rural counties and the rural portions of Clark and Washoe counties through the Home Means Nevada Rural Down Payment Assistance Program, which launched on Dec. 5.
The Nevada Housing Division, a division of the Department of Business and Industry, was created by the Nevada Legislature in 1975 to solve a very real problem: a shortage of safe and decent housing for individuals and families of low and moderate income.
Nevada Rural Housing’s mission is to promote, provide and finance affordable housing opportunities for all rural Nevadans. NRH does this through homeownership programs, rental services, community development initiatives and an exclusive weatherization program. NRH serves Nevada’s 15 rural counties and the rural portions of Clark and Washoe counties – a coverage area of 110,000 square miles and home to more than 1.3 million Nevadans.
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Investors buys rental townhome community
Banyan Residential, a Los Angeles-based private real estate investment firm, has acquired Banyan Brighton, a build-to-rent luxury townhome community for $61 million. This marks the firm’s fourth build-to-rent acquisition this year, and its first deal in Las Vegas.
Upon completion, Banyan Brighton will offer a total of 133 two- and three-bedroom townhomes, ranging from 1,396 square feet to 1,479 square feet. Each home includes an attached two-car garage, first-class finishes and private outdoor living space. The homes are located within the 1,000-acre Skye Canyon master-planned community, which offers a 10,000-square-foot indoor fitness facility, modern clubhouse, 5-acre sports field, full-service coffee shop, outdoor lap pool, and five distinct parks including green spaces, picnic areas, tennis courts and dog parks.
“We are proud to expand into the Las Vegas market with the acquisition of Banyan Brighton,”said Max Friedman, partner at Banyan Residential. “We’re confident that this community will be a success and add value to the North Las Vegas submarket, which continues to outperform both regional and national market averages.”
Banyan Brighton is located in-between the Las Vegas Strip and Mount Charleston.
Cushman &Wakefield is actively leasing the townhomes delivered to date. Final units are expected to be delivered in the third quarter of 2023.
