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Developers present SHARE Westside project; report 17% local employment, 23% subcontracting to SNEC
Summary
Developers of the SHARE Downtown Westside project told the Southern Nevada Enterprise Community Board the 104-unit mixed-use project is about 20% complete; they said rent covenants cap units at 120% of AMI, and reported 17% local employment participation and 23% local subcontracting so far.
Developers of the SHARE Downtown Westside project presented updated plans and early compliance numbers to the Southern Nevada Enterprise Community Board on the matter of local hiring and subcontracting.
The presentation, led by Grant Garcia, chief operating officer of SHARE Downtown, and Sam Cherry, CEO of Cherry Development, described a mixed-use project of 104 one-bedroom, one-bath units with roughly 17,000 square feet of ground-floor retail and an about 8,950-square-foot market food hall. Garcia said the project is “about 20% through” construction and that the development is operating under rent covenants tied to a 120% area median income cap.
Why it matters: the board and city officials track employment and subcontracting commitments on projects that receive city involvement to ensure local economic benefits. Councilwoman Summers Armstrong framed the discussion around whether the project is meeting the city’s intent to create jobs and contracting opportunities for West Side residents and businesses.
Developers’ details and compliance numbers Sam Cherry and Grant Garcia said the project’s affordability provisions are based on HUD-published AMI limits and that the…
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