June 30, 2022

Cortez Masto Announces $1.9 Million for Affordable Housing in Nevada

Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) announced that the Federal Home Loan Bank of San Francisco (FHLB-SF) has awarded $1.9 million to help build affordable housing in Nevada under the Affordable Housing Program. The Senator has repeatedly urged the Bank to do more to support affordable housing and community development in the state.

“I’ve been working for a long time with the Federal Home Loan Bank of San Francisco to make sure it’s fulfilling its mission to invest in affordable housing and community development in our state,” said Senator Cortez Masto. “This funding I advocated for will help Nevada organizations build homes for families, seniors, veterans, and others in need of a safe and stable place to live. I’ll keep working to increase affordable housing options for all Nevadans.”

The funds will be distributed as follows:

  • $1 million to Pebble and Eastern Senior Apartments in Paradise, Nevada to create affordable housing for 195 seniors, including 20 units of permanent supportive housing reserved for unhoused seniors with disabilities and unhoused veterans.
  • $900,000 to Hafen Village in Mesquite, Nevada for construction of 60 energy-efficient, affordable homes.

Senator Cortez Masto has been a leader in building more homes for Nevadans. She has worked consistently with the Federal Home Loan Bank of San Francisco to increase FHLB-SF funding for affordable housing and community development, and she has secured a commitment for a targeted affordable housing fund for Nevada from the Federal Home Loan Bank of San Francisco. In addition, Senator Cortez Masto’s support of the American Rescue Plan helped deliver $800 million in affordable housing funding to the state of Nevada. Her support for federal housing investment has helped preserve or build more than 17,000 affordable homes in the state in the past five years. She has also successfully passed legislation to ensure that state and local governments consider manufactured housing when prioritizing their housing investments and require transportation agencies to consider housing in their plans. She has secured protections for homeowners and renters and led multiple bills to increase federal and private funding for housing, make homes more affordable, prevent housing discrimination, and hold lenders accountable for discrimination in mortgage lending.