The Dorms On Sage Street Campaign
Update June 20, 2018
Finally……
A partial solution to our growing affordable
housing challenge
The Problem:
• Housing supply has not kept up with demand!
• New residents and recent graduates are
desperate for a place to live
• Forcing rents up over 50%
• Pushing low income residents and elderly out
• Homelessness is rapidly increasing
Lack Of Housing Driving Rental Costs Up!
$1,600
$1,400
3/2 Rental
$1,200
$1,000 Average Rent
$800
1/1 Rental
$600
Johnson Perkins Griffin, LLC Apartment Survey 3rd Qr. 2016 Data Reno/Sparks Metro
Part Of The Affordable Housing and
Homeless Puzzle
Transitional Additional Additional
& Low Affordable Funding
Income Housing For
Housing Construction Services
$$$
Women’s & Homeless Additional
Children Youth Homeless
Shelter In Housing Shelter Out
Downtown (Eddy House) Of Downtown
What Are The Dorms On Sage Street
• Affordable housing - 200 units!
• Pre-fab dormitory-style housing
What Are The Dorms On Sage Street?
• Long narrow structures that fit
well on site
• Private rooms with window, desk,
bed and roomy closet with
resident controlled HVAC
• Each room has a locking door
• Shared bathrooms in each wing
What Are The Dorms On Sage Street?
• Commercial Kitchen
• Community Gathering Room
• Laundry Room
• Gym
• Business Services Room
• Meeting Rooms
Where Will They Be?
•Just Outside Of The Downtown
What Will be On Site?
• Fencing and Lighting
• Community Gathering Space
S • Picnic / BBQ area
a
g • Pet Park Space / Public Art
e • Landscaping / Secure Parking Area
S
t
r
e
e
t
Train Tracks and River
Affordable Housing That Is A Hand Up!
• The goal is a hand up,
not a handout or for profit
• Proposed rent below 40%
of Area Median Income
• Priority given to
displaced Nevada residents
• Residents screened
criminal history, credit, etc.
Services to Help Lift Up
• All residents will be provided
financial counseling
• Service needs of residents
will be determined in
application process:
- Education Needs
- Mental Health /
Addiction
- Employment / Career
Skills
Who Are They For?
Targeted Tenants
• Lower income/minimum
wage workers who want
a secure environment.
• Young people working
full-time, trying to stay
off the streets.
• Seniors living in motels
while waiting for Senior
Affordable Housing.
An Opportunity We Must Seize Now!
Demand for Affordable Housing is A Crisis!
• Rare opportunity to acquire
200 housing units at a fraction
of their original price
• City of Reno is donating the
land - 5 acres
• The Community Foundation will
use a community housing land
trust to hold the land
• Volunteers of America (VOA) to
operate
Affordable Forever
•200 homes forever!
•The Value of the Community housing
Land Trust. 200 people a month per
year.
•After the first 10 years another Project
starts. Pay it Forward!
Project Costs
Project Costs:
• Land 5 acres $ 1,500,000
• Cost of dorms and buildings $ 1,900,000
• Transportation, assembly, rest
Rooms, fencing etc. $ 2,000,000
• Site prep, utilities, infrastructure
Contingency $ 2,300,000
• Fees and misc. expenses $ 600,000
Total Costs: $ 8.3 Million
Funding Needed $3 Million approximate
Project Funding / Revenue:
• Donated Land 5 acres $ 1,500,000
• In-kind Construction Support $ 900,000
• Significant Donations to date $ 1,011,435
• Dorms/Building Loan @ 1% $ 1,900,000
Funding Totals $ 5,311,435
Revenue Needed $ 8,300,000
Funding Shortfall $ 2,988,565
Timeline
• Need Community Funding By July 31
• Site Prep / Transportation Jul / Aug
• Construction / Assembly Sep
• Landscaping and Fencing Oct
• Set Up & Resident Selection Oct / Nov
• Grand Opening Thanksgiving
Who Is On Board?
Organizations
• City Of Reno
• EDAWN
• Volunteers Of America
• The Community Foundation
Who is On Board?
Cash Donations
The Community is coming together!
Collectively every penny and dollar counts.
Visionaries have helped and their neighbors
are joining in now to give a Hand Up.
Who Is On Board?
In Kind Donors:
• Abbi Agency • Q & D Construction
• Afognak Native Corp • Reno Engineering Corp.
• Allison Gorelick, RE • Tolles Development
• Helix Electric • Summit Engineering
• Lifestyle Homes • Western Nevada Supply
• McGinley & Associates
• Pezonella & Associates
Will you Come On Board?
The Dorms on Sage Street are your
community collaborative. We need
everyone joining in today… to make a
difference for people by this winter. You
can make a difference today.
HOW????
Take Action & Give Support
•To write a Tax Deductiblecheck to the CHLT
(Community Housing Land Trust) or give to
• nevadafund.org/housing
•Introduce us to others who will join the community in
making a difference.
•Talk about Dorms on Sage Street on social media
Write a check to: CHLT
We Can Do More - Questions?
Write a check to: CHLT
