Senator Joseph M. Neal Jr. Apartments Break Ground; One- and Two-Bedroom Apartments Expected to Open Fall 2027
Western Alliance Bank has announced that its Affordable Housing Finance Group is providing key financing for the Senator Joseph M. Neal Jr. Apartments, a 192-unit affordable housing community that will soon rise in North Las Vegas. The development marks an important step forward in addressing the region’s growing need for accessible and dignified housing.
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As part of its support, Western Alliance Bank purchased $43.8 million in tax-exempt construction bonds and invested 49% of the $35.1 million in tax credit equity. This major investment underscores the bank’s commitment to creating sustainable communities and supporting residents who need affordable housing options.
The new community, located at 1632 Yale Street near East Tonopah Avenue and North 5th Street, will feature a thoughtful design that prioritizes both comfort and connection. Spread across four stories, the property will include one- and two-bedroom apartments and provide essential amenities such as laundry facilities, a community center, management offices, recreational spaces, a clubhouse, a fitness center, a computer lab, and even a dog park. These features aim to foster a sense of belonging and community among residents.
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With a senior leasing preference for individuals aged 55 and older, the development carries a special significance. It is named in honor of Joseph M. Neal Jr., Nevada’s first Black state senator, who served the community with distinction from 1973 to 2001. Construction is expected to be completed by the summer of 2027, and once open, the property will provide a safe, affordable, and welcoming home for many who have long struggled to find housing stability in the Las Vegas area.
“Las Vegas requires 92,000 additional housing units, according to the Southern Nevada Regional Housing Authority, and every apartment added makes a difference,” said Philipp Smaczny, Managing Director of Affordable Housing Finance for Western Alliance Bank. “We’re proud to support a project that will bring nearly 200 new homes to seniors and other residents in need. The Senator Joseph M. Neal Jr. Apartments will help more Las Vegans find a place they can truly call home.”
The project is being co-developed by the Southern Nevada Regional Housing Authority (SNRHA), through its nonprofit arm Affordable Housing Programs, Inc. (AHP), in partnership with McCormack Baron Salazar, one of the nation’s leading affordable housing developers. Together, these organizations are working to bring a shared vision to life one that blends compassion, community, and long-term sustainability.
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“The mission of the Southern Nevada Regional Housing Authority is to provide safe and affordable housing that fosters independence, self-sufficiency, and community pride,” said Lewis Jordan, Executive Director of SNRHA. “There is no better way to achieve this than by creating homes that are comfortable, dignified, and affordable. Thanks to partners like Western Alliance Bank, and the collaboration of federal, state, and local funding sources, we can make these important projects a reality and strengthen our communities.”
All apartments in the new complex will be reserved for residents earning at or below 30%, 50%, or 60% of the area median income. Nearly two-thirds of the homes 120 units will benefit from a 20-year HUD Section 8 Housing Assistance Program (HAP) contract, ensuring lasting affordability and stability for the community’s residents.
“The Senator Joseph M. Neal Jr. Apartments will be a cornerstone of North Las Vegas, offering transformative and affordable housing for years to come,” said Vincent Bennett, CEO and President of McCormack Baron Salazar. “This development represents the power of partnership honoring history, building legacy, and laying the foundation for sustainable growth and long-term stability.”
Merchants Capital played a key role in the project by leading the debt and equity origination. Linda L. Hill, Executive Vice President at Merchants Capital, emphasized the collaborative spirit behind the initiative. “This project represents a meaningful investment in the future of North Las Vegas,” she said. “It provides high-quality, affordable housing for seniors while honoring the legacy of a trailblazing public servant. We’re proud to partner with Western Alliance Bank, McCormack Baron Salazar, and the Southern Nevada Regional Housing Authority to bring this community to life.”
When completed, the Senator Joseph M. Neal Jr. Apartments will stand as more than just a new housing complex. It will represent hope a reminder of what can be achieved when public and private organizations come together to make a lasting difference for the people of North Las Vegas.
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