Loan Amount: $1,264,000
Developer: Marvel Way Apartments LLC
The Marvel Way Apartments is a proposed 42-unit multifamily permanent supportive housing development providing 42 affordable housing units (100% of total) restricted to tenants with household incomes not exceeding 60% of the area median income, featuring one and two-bedroom units in a three-story garden-style building. It targets low-income individuals recovering from drug/alcohol addiction, requiring a commitment to sobriety and offering supportive services for long-term recovery. The property is unique as the first recovery house in northern Nevada, with eight units receiving project-based Section 8 vouchers and a focus on safe, stable, sober living.