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Heirloom at Torrey Pines opens 190 affordable senior apartments in southwest Las Vegas

Heirloom at Torrey Pines opens 190 affordable senior apartments in southwest Las Vegas

Built World Las Vegas, NV local

The 190-unit complex is nearly 90% leased, with $15 million from Clark County's Community Housing Fund behind a roughly $60 million project

October 26th, 2026: Heirloom at Torrey Pines holds ribbon-cutting

Overview

Updated Oct 30

Donna Rudd, 68, pays $1,147 a month for a one-bedroom at the Heirloom at Torrey Pines. Before she moved in June, she says parking, garbage and other fees kept her paycheck-to-paycheck.

The complex opened Oct. 26 with 190 apartments, 130 one-bedroom and 60 two-bedroom, and is nearly 90% leased, the developer says. Clark County put $15 million into the roughly $60 million project through its Community Housing Fund. Commissioner Michael Naft says the fund has allocated $280 million and supported 5,800 units since 2024.

Why it matters

Nearly 21,000 low-income elderly households in the area spend more than half their income on housing, and this adds 190 units.

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Key Indicators

190
Apartments opened
The Heirloom at Torrey Pines has 130 one-bedroom and 60 two-bedroom apartments for older adults.
$15M
Clark County contribution
The county provided the money through its Community Housing Fund.
$60M
Approximate project cost
The development was financed in part by Clark County and the state's Home Means Nevada initiative.
~90%
Apartments leased
The developer says the complex was close to 90% leased shortly after opening.
$280M
Cumulative Community Housing Fund allocations
Commissioner Michael Naft says the county has allocated that total since creating the fund.
5,800
Housing units restored, preserved or opened
Naft says the count follows the board's 2024 approval of Community Housing Fund dollars.
21,000
Low-income elderly households paying over half income on housing
The figure comes from U.S. Department of Housing and Urban Development data from 2016 to 2020, cited by Clark County.
$1,147
Monthly rent for a one-bedroom
Resident Donna Rudd pays that amount at the Heirloom at Torrey Pines.

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People Involved

DR
Donna Rudd
Resident at the Heirloom at Torrey Pines
Lives at the complex and pays $1,147 a month for a one-bedroom
MN
Michael Naft
Clark County Commissioner
Spoke at the Heirloom at Torrey Pines ribbon-cutting

Organizations Involved

Clark County
Clark County
Local government
Provided $15 million to the Heirloom through its Community Housing Fund

The county contributed $15 million to the Heirloom through its Community Housing Fund.
HT
Heirloom at Torrey Pines
Affordable senior housing development
Opened 190 apartments; nearly 90% leased, with about 25 units available at opening

The complex has 190 one- and two-bedroom apartments for older adults in southwest Las Vegas, with rents set by household income.
Community Housing Fund
Community Housing Fund
Public housing fund
Has allocated $280 million, according to Commissioner Michael Naft

Clark County's fund has allocated $280 million for affordable housing projects, according to Commissioner Michael Naft.
Ovation Development
Ovation Development
Housing developer
Built the Heirloom at Torrey Pines; Clark County says it has six more projects in the pipeline

Ovation Development built the Heirloom at Torrey Pines, a 190-unit affordable senior complex in southwest Las Vegas.

Timeline

2024 October 2026

3 events Latest: October 26th, 2026 · 2 weeks ago

  1. Heirloom at Torrey Pines holds ribbon-cutting

    Latest Opening

    The complex opens 190 affordable senior apartments in southwest Las Vegas with $15 million from Clark County.

  2. Donna Rudd moves into the Heirloom at Torrey Pines

    Resident move-in

    Rudd pays $1,147 a month for a one-bedroom apartment at the complex.

  3. Clark County board approves Community Housing Fund dollars

    Policy

    Commissioner Michael Naft says the board approved dollars that have since supported 5,800 housing units.

Scenarios

1

Heirloom at Torrey Pines fills all 190 apartments

Likely Resolves by Apr 30, 2027

Discussed by: KTNV reporting on the 25 remaining units and the leasing office's availability

The complex opened with about 25 apartments still available. If demand matches the county's stated need, the leasing office will stop advertising vacancies and may start a waitlist.

2

Clark County adds another round of Community Housing Fund money

Possible Resolves by Q2 2027

Discussed by: Commissioner Michael Naft's statements on the fund's cumulative allocations

Naft says the fund has allocated $280 million since 2024. If the county keeps using it for projects like the Heirloom, the next budget cycle could raise the cumulative total.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

1959

Section 202 Supportive Housing for the Elderly (1959)

Congress created the Section 202 program in the Housing Act of 1959, offering below-market loans to nonprofits building rental housing for older adults. It was later converted into a capital-advance program administered by the U.S. Department of Housing and Urban Development.

Then

The program gave nonprofits a federal financing tool for elderly housing.

Now

It remains one of the few federal accounts dedicated to supportive housing for low-income seniors.

Why this matters now

The Heirloom uses local money, not Section 202, but it fills the same gap: housing for older adults on fixed incomes.

1986

Low-Income Housing Tax Credit (1986)

The Tax Reform Act of 1986 created the Low-Income Housing Tax Credit, which lets states allocate federal tax credits to developers who reserve apartments for lower-income renters.

Then

It became the largest federal subsidy for new affordable rental housing.

Now

Most new affordable developments combine the credit with local funds.

Why this matters now

Local housing funds like Clark County's often fill gaps that tax credits do not cover.

Sources

(5)
KTNV Clark County Fox5 Vegas Las Vegas Chinese News News in Las Vegas