Praxis Consulting Group is currently providing project management and development finance services to a Reno-based non-profit organization, Silver Sage Manor, Inc. Silver Sage at Neil Road Apartments is a two-story, new construction, elevator residence, which will include 30 one-bedroom and 6 two-bedroom, accessible / adaptable apartments with balconies as well as community and service space. Silver Sage at Neil Road Apartments will be a senior-restricted development, available to residents age 55 and above. All of the units will be affordable to seniors at or below 50% of area median income (AMI).The development financing includes ARRA Section 1602 TCEP funds, HOME funds from the Washoe County Home Consortium, and gap financing through the ARRA TCAP program. This project is currently under construction - the projected completion date is June 2011.
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