Western Alliance Bank and FHLBank San Francisco Partner to Fund $1.25 Million Affordable Housing Grant in Nevada

Western Alliance Bank and FHLBank San Francisco have partnered to award a $1.25 million grant to the Blind Center of Nevada for an affordable housing project called Visions Park. The grant will fund the construction of 100 units for blind and visually impaired residents in Las Vegas, addressing Nevada's affordable housing shortage. The project is scheduled for completion in early 2026 and aims to provide essential housing and easy access to necessary services for its residents.

Western Alliance Bank and the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) have joined forces to award a $1.25 million grant to the Blind Center of Nevada for the construction of Visions Park, a 100-unit supportive housing project in downtown Las Vegas. The grant, part of FHLBank San Francisco's 2025 Affordable Housing Program (AHP) Nevada Targeted Fund, aims to address Nevada's significant affordable housing shortfall [1].

Visions Park, located adjacent to the Blind Center's facility near the intersection of Washington Avenue and Bruce Street, will serve individuals who are blind or visually impaired with incomes at or below 40% of Area Median Income (AMI). The project, which broke ground last September, is scheduled to open in early 2026. This initiative is one of only five selected statewide for this year's targeted funding [2].

Aidan Tracey, assistant vice president of portfolio management for Western Alliance Bank's Affordable Housing Finance Group, expressed his satisfaction with the project's progress, stating, "It is extremely gratifying to see this meaningful project come to life to address the critical need for affordable housing in Nevada, particularly for individuals living with disabilities" [2].

Todd Imholte, president and CEO of the Blind Center of Nevada, highlighted the unique nature of Visions Park, noting that it is the first of its kind in the United States, providing essential housing and easy access to necessary services for its residents. "Not only does it provide essential housing, it empowers our clients and residents to easily access the services to help them reach their highest potential" [2].

According to The Gap 2024 report compiled by the National Low Income Housing Coalition, Nevada is experiencing a significant affordable housing shortfall, with just 14 affordable homes per 100 households [1]. To address this dire need, FHLBank San Francisco launched the Nevada Targeted Fund in 2023.

AHP grants contribute to the development, preservation, or purchase of multifamily and single-family housing that serves people in need, including lower-income families, the chronically unhoused, seniors, veterans, at-risk youth, people living with disabilities, and others [1]. Joseph E. Amato, interim president and CEO of FHLBank San Francisco, emphasized the cooperative's commitment to addressing the affordable housing crisis across Arizona, California, and Nevada, stating, "This funding for the Blind Center of Nevada, delivered in partnership with our member Western Alliance Bank, is an example of our work to expand the supply of housing that delivers critical support services to individuals and families who need it most" [1].

References:
[1] https://www.morningstar.com/news/business-wire/20250806139016/western-alliance-bank-teams-with-fhlbank-san-francisco-to-award-125-million-affordable-housing-grant-to-blind-center-of-nevada
[2] https://www.westernalliancebancorporation.com/news/western-alliance-bank-fhlbank-award-blind-center-nevada